President Yoshiro Mori said the 2021 Olympics will continue on as planned. He basically said that they will hold the Olympics, regardless of how the situation looks up until then. He also acknowledged that the games would definitely look different than they normally do, but that nothing is going to stop them from continuing on as scheduled.
It's a tough decision. There's just been a ridiculous amount of money poured into the games at this point to easily cancel them entirely. On the other hand, I'm not sure why they can't just be postponed for a few months or until next year. It wouldn't be the first time that both the winter/summer Olympics were held during the same year. I feel like doing that makes the most sense for the situation were currently in. After all, things will get better.
"We will hold the Olympics, regardless of how the coronavirus [situation] looks," Mori said, according to Reuters, though he acknowledged that the Games would be different due to the pandemic. "We must consider new ways of hosting the Olympics."