On May 20, 2021, the 27th Kajima Foundation for the Arts Awards were held at the Kajima KI Building (Minato-ku, Tokyo) hosted by the Kajima Foundation for the Arts (led by Chairperson Kimiko Kajima), along with an online live stream of the event. These awards are held every year to recognize outstanding work in art history research. Winners were given a certificate and an additional prize of 500,000 yen by Chairperson Kajima before they were given the opportunity to give a presentation on their findings.

This year's winners were Yui Kanda for her research titled "Hitherto Unknown Brass Candlestick with Inscription on Being Presented to the Shrine of Imam Musa al-Kadhim and Inscriptions of Poetry in Persian" as well as Yuko Fujisaki for her research titled "Study on the Expression within the 'Il Compianto del Cristo Morto' Sculptural Group from the Italian Renaissance." Two people were also selected for Awards of Excellence: Michihiko Egaitsu for his research titled "Study on the Graphical Depiction of Monkey Performing in Medieval Paintings" and Taichi Osana for his research titled "The Role of the Pierre Matisse Gallery during the Second World War: Focusing on Art Exchange between Europe and America." These prizes were selected from a total of 54 research projects that received grants in 2018.