is a private, non-profit grant-making organization.

Grant (money)

Grants are funds disbursed by one party , often a Government Department, Corporation, Foundation or Trust, to a recipient, often a nonprofit entity, educational institution, business or an individual. In order to receive a grant, some form of "Grant Writing" often referred to as either a proposal...

 It was established in 1962 by Ryoichi Sasakawa

Ryoichi Sasakawa

was a Japanese businessman, politician and philanthropist born in Minoh, Osaka. He was accused but acquitted of being a Class A war criminal after World War II, was a self-proclaimed fascist, kuromaku , and the founder of The Nippon Foundation...

, the late statesman and businessman who, following World War II, was accused, albeit not convicted, of class A war crimes. The foundation’s mission is to direct Japanese motorboat racing revenue into philanthropic activities, and it uses these monies to pursue global maritime development

Shipbuilding

Shipbuilding is the construction of ships and floating vessels. It normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to before recorded history.Shipbuilding and ship repairs, both...

 and assistance for humanitarian work

Humanitarianism

In its most general form, humanitarianism is an ethic of kindness, benevolence and sympathy extended universally and impartially to all human beings. Humanitarianism has been an evolving concept historically but universality is a common element in its evolution...

, both at home and abroad. In the humanitarian field, it focuses on such fields as social welfare, public health, and education.

Despite its funding of many public health and welfare programs, the foundation has been criticized, primarily by scholars and journalists on the left, as an organization with right-wing, nationalist motives.