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The Japan Prize Preparatory Foundation was established on November 1, 1982, with the approval of the Prime Minister, for the purpose of establishing the Japan Prize as a prestigious international award in the fields of science and technology.
　The creation of the Japan Prize was motivated by the desire to "express Japan's gratitude to international society. "This plan was advocated in 1981 by Mr. Taro Nakayama, the then Director-General, the Prime Minister's Office of the Suzuki Cabinet, and supported with the fund donated by the late Mr. Konosuke Matsushita, the founder of Panasonic Corporation.
　The preparatory foundation was later renamed The Science and Technology Foundation of Japan on May 5, 1983, with its purpose and activities broadened to include the development and dissemination of ideas and information related to science and technology, in addition to the awarding of the Japan Prize.