The committee was announced following an executive project review teleconference featuring by IOC Coordination Commission chair John Coates, Olympic Games executive director Christophe Dubi, Tokyo 2020 President Yoshirō Mori and chief executive Toshirō Mutō.

Coates and Mori are set to lead the committee, with meetings held whenever necessary to ensure permanent coordination and decision making. 

The IOC will also have its "Here We Go" task force, while Tokyo 2020 have set-up the "New Launch" task force. 

Key elements of the planning for 2021 are set to replicate the Games delivery plan for 2020. 

Particular focus will be put on venues and the competition schedule, with Tokyo 2020 set to request that each venue owner follow the same schedule as 2020 on the new dates in 2021.

Mori revealed that conversations with the venue owners were still ongoing due to the complexity of the situation and that it would be difficult to set a deadline for discussions. 

"There are various venues involved, which have different contracts, and there are different entities which own venues," he said.

"Some of them are private entities, some of them are public entities, so all situations are different. 

"Therefore, I don't think it is correct to say, uniformly, that by this timeline we will have arrived at this conclusion. 

"We have to look into every different case very elaborately and very clearly."

A new road-map for the Games will be established by next month, however, in order to then align resources and priorities accordingly. 

Coates said a number of measures addressing the potential impact of coronavirus will be incorporated into the Games delivery plan for 2021. 

This follows concerns that the pandemic may still be an issue next year, with Mutō recently claiming that he did not think "anyone would be able to say if it is going to be possible to get it under control by next July or not".

It is not yet known which measures will be introduced for the Games, with Coates claiming organisers would be guided by recommendations from the World Health Organization. 

Tokyo 2020 was postponed last month due to the coronavirus pandemic, which has now infected more than two million people and killed more than 135,000 worldwide. 

Coates claimed the Olympics and Paralympics, now scheduled for July 23 to August 8 and August 24 to September 5 2021 respectively, would be a "beacon of hope".

"We believe that the Tokyo 2020 Olympic Games can stand as a beacon of hope to the world during these troubled times, and that the Olympic Flame can be the light at the end of the tunnel in which the world finds itself at present," he said. 

"The joint steering committee will give its all to ensure that this is the case."