Tokyo Olympics organisers on Friday said they have secured a "basic approval" for around 80 percent of Olympic venues and facilities for the Games next year.

Speaking at the outset of the Tokyo 2020 Executive Board meeting on Friday, president Yoshiro Mori also pointed out further adjustments need to be made for some of the venues that have other bookings.

Earlier this week, organisers said they want to simplify next year's postponed Tokyo Olympics to keep costs down. Estimates in Japan say the delay could cost $2 billion to $6 billion with most of the costs to be absorbed by Japanese taxpayers.

But how to cut and where to cut is still unclear and and there's unlikely to be anything concrete until there is a better understanding of the coronavirus pandemic and the measures Tokyo needs to take against it.