The illuminated Olympic rings float in the water as the Rainbow Bridge and the Tokyo Tower are visible in the distance, Jan 24, 2020, in the Odaiba district of Tokyo. (JAE C HONG / AP)

GENEVA — The International Olympic Committee (IOC) on Friday confirmed that the Tokyo 2020 Olympic Summer Games achieved a balanced budget.

"The IOC would like to confirm that thanks to detailed budgetary work, the Tokyo 2020 Organising Committee achieved a balanced budget of JPY 640.4 billion (USD 5.8 billion)," an IOC newsletter announced.

Tokyo 2020 Organising Committee achieved a balanced budget of JPY 640.4 billion

The IOC said these figures were provided after "a thorough budgeting process that involved the Tokyo 2020 Organising Committee, the Tokyo Metropolitan Government and the Government of Japan".

READ MORE: Tokyo Olympics: Costs hit almost US$25b, may go higher

"The budget was presented at Tokyo 2020's last-ever Executive Board meeting as a formal entity in June 2022. These accounts were approved by all stakeholders involved and confirmed by an independent third party audit," it said.

Tokyo 2020 was postponed to 2021 summer because of the COVID-19 pandemic and ceased operations and entered its final liquidation process at the end of June 2022.