Japan's Princess Mako will forgo the 150 million yen ($1.35 million) allotted to her in exchange for losing her royal title at her planned marriage to a classmate, paving the way for a marriage that has been delayed for years by a controversy over the princess's fiancé, media reported on Saturday.

Mako, 29, the granddaughter of Emperor Akihito, announced the abdication of the throne because of her engagement to Kei Komuro in 2017. But the marriage was postponed after reports of a financial dispute between Komuro's mother and her ex-fiancé.

Media expected that Mako and her fiancé intend to live in the United States (Reuters)

Japan's public broadcaster NHK said the government would agree to the princess waive an amount of up to 150 million yen ($1.35 million) in exchange for the emperor's family members giving up their titles to marry the public, in light of public criticism of her fiancé.

She also mentioned that the wedding date may be announced in October.

There was no comment from officials of the Imperial Household Agency.

A local media outlet had expected the marriage to be imminent, saying that Komuro appeared in New York recently with his hair in a ponytail, angering some Twitter users in the country.

Media said Mako and her fiancé planned to live in the United States, according to a Reuters report.

Under Japanese law, which limits the jurisdiction of the imperial throne to males, females of the imperial family are deprived of their titles if they marry commoners.