The largest and in many ways the most advanced Japanese purpose-built aircraft carrier, Taiho was a developed Shokaku, but introduced a number of innovative features; it is not certain that the earliest sketch designs showed these, and the ship's somewhat extended building period may reflect design modifications worked in as construction progressed. Taiho was Japan's first carrier to feature an armored flight deck; consisting of 3in plate and intended to stop a 1,000lb bomb, this was also the longest to see Japanese service.

The armored flight deck contributed substantially to the rigidity of the hull, but the main strength member was the lower hangar deck, 4.9in plate and extending across the machinery spaces and boiler rooms, and enclosed by a 5. 9in belt; armor protection in total accounted for 8,800 tons, or 30 per cent of the entire weight of the ship - almost certainly the highest proportion in any carrier design with the exception of the converted battleship Shinano. The top weight of the flight deck forced a compromise of course, and this manifested itself in the elimination of one deck compared to Shokaku, in order to keep freeboard down. The official capacity of 60 aircraft seems somewhat low, given the size of the hangars (each not much less than 500ft long and with a height of 16ft 6in), but may reflect the fact that the ship was designed to embark the new Aichi B7 A heavy torpedo / dive bomber, which it never had the chance to do; in service an air group comprising 75 aircraft could be accommodated. A further innovation was the plating of the bows up to flight-deck level, a unique Japanese instance though of course standard practice in the Royal Navy's carriers.

Taiho was sunk within a few weeks of completing her shake-down. At the Battle of the Philippine Sea, she was hit by torpedoes fired from the submarine Albacore on 19 June 1944. Petrol vapor igniting some hours later caused a massive explosion and she was lost.