Tokyo’s 2020 Olympic Games will be the first of a leaner type of competition that will limit spending on big-ticket venues to avoid alienating the public, Chief Executive Officer Toshiro Muto said, two months after debt-ridden Japan canceled plans for a futuristic main stadium, Bloomberg News reported. The International Olympic Committee last year set out a new agenda that favors existing venues over purpose-built stadiums, as concerns mount in potential host countries over the burden of holding the event.

Standard & Poor’s on Wednesday lowered Japan’s sovereign debt rating one notch, in the latest sign of concern about Japan’s economic prospects nearly three years after Prime Minister Shinzo Abe took power, The Wall Street Journal reported. S&P said it was lowering the rating to A-plus from AA-minus because weak economic growth makes it less likely that the government can quickly improve the nation’s fiscal health.

Japan should consider an extra fiscal stimulus of Y2tn ($84bn) this autumn, the country’s economy minister has said, as fears grow that a Chinese slowdown will hit growth across Asia. In an interview with foreign reporters, Akira Amari said Japan’s tax revenues had come in Y4tn higher than budgeted, and that the question was how to make use of the extra funds. “The ministry of finance would like to use all of the money to speed fiscal consolidation,” said Mr Amari, one of the most senior figures in the administration of Shinzo Abe, prime minister.

Toshiba again delayed announcing its annual financial results on Monday, as new accounting errors prevented the company from drawing a line under Japan’s worst corporate scandal in four years, the Irish Times reported. Toshiba, which was scheduled to post its earnings for the business year ended in March, said the newly discovered problems included incorrect impairment charges on fixed assets at several subsidiaries and improperly timed booking of loss provisions at a US subsidiary.

Japan’s consumer inflation ground to a halt for the first time in more than two years and household spending unexpectedly fell in July, increasing pressure on policy makers to offer fresh fiscal and monetary support to underpin a fragile recovery. The gloomy data, coupled with soft exports that were blamed on China’s slowdown, reinforces the dominant market view that any rebound in Japan’s growth after the contraction from April to June will be modest.

Since the collapse last year of Mt. Gox, the exchange that served as the largest hub for storing and trading the virtual currency Bitcoin, law enforcement officials and angry clients have been asking what happened to nearly half a billion dollars in Bitcoins that the company said had vanished from its computer systems.

Airbus said on Thursday it was studying two proposals to revive Skymark and would favour any plan that both gives the bankrupt Japanese airline a future and takes account of the planemaker's interests, Reuters reported. Alongside aircraft leasing firm Intrepid Aviation Ltd, Airbus is one of the biggest creditors to Skymark, which ran into financial trouble after embarking on an ambitious expansion that included buying A380 superjumbos.

Prime Minister Shinzo Abe is expected to unveil a plan to balance Japan’s budget in five years, a move that underscores Tokyo’s resolve to improve its deficit-ridden finances even as it continues to pursue costly economic-stimulus programs, The Wall Street Journal reported. In a draft plan to be released early next week, Mr.

Aircraft leasing firm Intrepid Aviation Ltd, the biggest creditor of Skymark Airlines, is seeking another sponsor for the failed budget carrier instead of ANA Holdings, court documents showed. Intrepid's search is part of a restructuring plan for Skymark filed at a Tokyo court on Friday, the same day the budget carrier filed a rival proposal that hinged on ANA buying a 16.5 percent stake. Intrepid's filing, seen by Reuters on Monday, did not name any other potential sponsors and did not say why the company opposed ANA's sponsorship.

The Japanese government will miss out on Y201.8bn ($1.6bn) in Bank of Japan profits this year as the central bank piles up capital against future losses, the Financial Times reported. According to its annual accounts, the BoJ is keeping 25 per cent of last year’s profit as capital, instead of the legally required 5 per cent. Last year it withheld 20 per cent. The move highlights both the size of BoJ profits from its massive monetary easing and the anxiety it feels about losses when the time comes to raise interest rates.