The Pemafibrate to Reduce cardiovascular OutcoMes by reducing triglycerides IN diabetic patiENTs (PROMINENT) trial is an international, multi-center cardiovascular outcomes trial evaluating improvements in triglyceride and HDL cholesterol levels with K-877 (pemafibrate) in high-risk diabetic patients with high triglyceride and low HDL cholesterol levels who are already taking statins. K-877 is a potent selective peroxisome proliferator activator receptor-alpha modulator, a promising category of metabolic therapy. The PROMINENT trial is recruiting an estimated 10,000 diabetic patients with and without established cardiovascular disease. All participants will receive aggressive, standard-of-care management of cardiovascular risk factors, including treatment with high-intensity statins. In addition, patients will receive either K-877 or placebo. The trial will test whether K-877 reduces the occurrence of future cardiovascular events.