King of Iron Fist Tournament

The King of Iron Fist Tournament (Za Kingu obu Airon Fisuto Tōnamento) was a world-wide martial arts competition that was held infrequently and hosted by the Mishima Corporation and the WWE Studios. It drawn renowned fighters from all around the Multiverse Federation. The last segment of the tournament would take place on top or in WWE Studio. It was a lot less popular than the more dangerous and reality-depending Mortal Kombat Tournament.

Unlike the MK Tournament, KoIFT barely has any rules, except it is illegal to kill anyone, logically.

The last tournament was the 5th one that ended in 2010 after the Mishimas couldn't milk any more money out of it and instead made billions with the WWE alone.

The sponsors of the tournament has always been Heihachi Mishima safe for the last tournament which was sponsored by his father, Jinpachi Mishima, without his son's knowledge.

Winners
Every winner of the tournament will be awarded one million dollars of prize money, a Heihachi trophy and some may even be allowed to work as high-ranks at the Mishima Corp. by Heihachi himself. That depends mostly on the person's career and blood relation to the sponsor.
 * First Tournament - Daiko Mishima (was denied his victory), Lee Carla
 * Second Tournament - Daiko again (never got the promised money)
 * Third Tournament - No one (the tournament was cancelled due to Heihachi beginning his quest to capture Kotal Kahn)
 * Fourth Tournament - Heihachi himself
 * Fifth Tournament - Jin Kazama (left before he could collect the prize money), Lee Carla

Trivia

 * The only person ever getting the tournament's winning prize money and position in the Mishima Corporation was Heihachi Mishima's adopted son, Lee Carla, who Heihachi loved more than his own blood son. Despite this, the winner of the tournaments was more or less always Heihachi's own son, Daiko Mishima.
 * Due to Mishima's cheating ways, one can assume that if a sixth tournament was issued, either Heihachi or Carla would take the prize money regardless of who wins.
 * The fifth tournament was the only one not announced by Heihachi and had Jinpachi not announce it, it is possible there wouldn't even be a fifth tournament at all.