The Praemium Imperiale (Japanese: 高松宮殿下記念世界文化賞, romanized: Takamatsu-no-miya Denka Kinen Sekai Bunka-shō, lit. 'World Culture Prize in Memory of His Imperial Highness Prince Takamatsu') is an international art prize inaugurated in 1988 and awarded since 1989 by the Imperial family of Japan on behalf of the Japan Art Association in the fields of painting, sculpture, architecture, music, and theatre/film.The prize consists of a gold medal and 15 million Japanese yen, and was created by the Fujisankei Communications Group, which pays the expenses of around $3 million per year. The prizes are awarded for outstanding contributions to the development, promotion and progress of the arts. Source: Wikipedia (en)