[3] The running gear utilizes computer-controlled active suspension[4] for a smoother, safer ride, and yaw dampers are fitted between cars for improved stability.

First announced by JR-West in September 1994,[6] the first set was delivered for testing in 1995, entering passenger service in March 1997.

It was the first Shinkansen train in Japan to operate at a maximum speed of 300 km/h (186 mph) in regular passenger service.

[9] The first reformed eight-car set was unveiled to the press on 28 March 2008, and the trains entered service on twelve daily Kodama runs from 1 December 2008.

[11] As of 27 March 2023[update], the fleet consists of six eight-car sets (V2–V4, V7–V9) formed as follows, with car 1 at the Hakata end.

[13] In announcement made on 14 February 2024, JR West outlined plans to retire four of the six remaining 500 series sets from revenue service by the end of 2026.

[19][20] From 24 February until 7 May 2018, the 500 series car preserved at the Kyoto Railway Museum was exhibited in the "500 Type Eva" livery.

[21][additional citation(s) needed]In March 2018, JR West announced the launch of a special "Hello Kitty" themed 500 series train on Sanyo Shinkansen Kodama services.