The number of participants in the New Japan Cup has varied over the years, from a lowest of 12 in 2007 to a highest of 32 in 2019–2020; the 2021 tournament features 30 entrants. It is considered a heavyweight tournament, although the 2020 edition was an openweight tournament instead, also featuring junior heavyweights; the same year, NJPW premiered the New Japan Cup USA, a version of the tournament taking place in the United States to determine a contender for the IWGP United States Heavyweight Championship.