[2] Each year since 1995 the Japan Shogi Association has awarded the Kōzō Masuda Award (升田幸三賞 Masuda Kōzō Shō) to the player or players whose innovative new ideas in shogi theory or tactics, or whose new or excellent moves have attracted significant attention among other shogi players and fans during the year.

[7] Masuda was awarded the Japanese government's Medal of Honor with Purple Ribbons in November 1973.

SCAP, which sought to purge militaristic and "feudalistic" elements of Japanese culture, saw shogi as depicting prisoner of war abuse: "In contrast with chess, in shogi, captured pieces may be used by the player that captures them; this constitutes POW abuse.

Masuda countered: "In chess, captured pieces cannot be used; this is akin to the execution of prisoners of war.

"[11] Masuda impressed his interviewers, and his remarks are said to have influenced SCAP's decision to not ban shogi.