With memories of the London Olympics still fresh in the mind, Tokyo has high hopes it will be selected as host of the 2020 Games.
In addition to bringing a "feel-good" factor, similar to that witnessed in London this summer, the committee behind Tokyo's bid estimates it will generate economic activity across Japan to the tune of 3 trillion yen (HK$297 billion) and create more than 150,000 jobs.
Of the total, some 1.67 trillion yen will directly benefit Tokyo's metropolitan district, the Tokyo 2020 Bid Committee announced in a report.
"The report envisions the Tokyo 2020 Games having a powerful economic impact in numerous sectors, including supplier contracts for local and international businesses, administrative activities [opening and closing ceremonies, competition management, transport and security] and the short- and long-term benefits of tourism and job creation," it said.
The economies of the city and the country will be stimulated by improved public transport, attractive new sports facilities and a variety of other valuable public amenities, the report claimed, adding that: "As the world's most forward-thinking city, Tokyo looks to deliver spectacular yet sustainable Games that are fully integrated with the city, its people and their future."
Tokyo last hosted the Olympics in 1964 and reportedly leads the pack of three surviving candidates for the 2020 Games.
The other two cities in the race are Madrid and Istanbul.
Financial worries are dogging Madrid's campaign, while Istanbul's bid has apparently been damaged by the fact that it is bidding in parallel to host football's 2020 European Championship.
International Olympic Committee rules state that a host country cannot host another major sporting event in the same year.
The decision on the successful host city will be announced on September 7 next year.