The one-year postponement of Tokyo Olympic 2020, which is scheduled to take place in Japan this summer after years of preparation has been quite a let-down for Japanese citizens, yet many said they understood the move in light of the COVID-19 pandemic. Meanwhile, athletes, national associations and sporting federations from around the world reacted with sadness, relief and mainly goodwill.

The historic decision to postpone this year's Olympic Games over the coronavirus pandemic is likely to pile on the pain for Japan's economy. The impact would apply both to the nation - which has invested heavily in making the Olympics a national showcase - and to companies that have poured their money into sponsorships.