The series 700 is a variant of the Shinkansen jointly developed by JR West and JR Central as a cheaper alternative to the series 500. They were built to replace older series 0 and 100 sets. Each set consists of either eight or 16 cars of which three quarters are being powered on all axles with 275 kW per traction motor. The 16-car variants are called types C and B, while the eight-car variant is type E.

In test runs in 1997 and 1998, the 16-car prototype reached speeds of up to 310 km/h. Introduction into service with a regular top speed of 285 km/h started in March 1999. By 2006, a total of 91 sets had been built. The type C is the most numerous with 60. The series N700 was developed as a tilting version of the series 700. For use in Taiwan, the series 700T has been developed from the series 700.