The organizing committee of the 2019 Rugby World Cup in Japan revealed Monday a 53.3 billion yen (around $478 million) budget to host the tournament, with next week marking a year until it kicks off.

The budget includes about 13.5 billion yen for maintenance of venues and around 12.1 billion yen to manage the tournament, including accommodation and travel expenses for the teams.

The organizers estimate that ticket sales will total around 26 billion yen, or about half of the revenue. The committee originally anticipated ticket sales of around 23 billion yen in a provisional budget last year but increased the figure after seeing steady sales.

The organizers also said that Prince Fumihito, Emperor Akihito's younger son, will assume the honorary presidency of the tournament. He will take the role on Sept. 20, exactly one year before the opening of the World Cup, until the tournament closes on Nov. 2, 2019.

The prince will be first in line to the throne on May 1 when his elder brother, Crown Prince Naruhito, ascends the throne after their father abdicates the previous day. Prince Fumihito is expected to attend the opening ceremony of the World Cup and watch the opening match between Japan and Russia in Tokyo on Sept. 20 next year.

A total of 48 matches will be played by 20 participating teams in 12 cities stretching from the northern main island of Hokkaido to the southern main island of Kyushu.