The Japan Prize is awarded by the Science and Technology Foundation of Japan (JSTF) to people whose original and significant achievements in the fields of science and technology have contributed to the peace and prosperity of humankind. The concept for the Japan Prize was generated in the early 1980s, when it was decided that Japan needed an international prize comparable to the Nobel Prize. Cabinet approval was given in 1983. The first award ceremony was held in 1985 in the presence of the emperor and prime minister. The award is given in two fields each year. One winner in each field is given a prize of 50 million yen.