How a Former Finance Pro Turned Japan's Rice Terraces Into an Asset

The guesthouse opened in 2018. It accommodates up to 10 guests, but Akuzawa keeps occupancy low to run it himself. Guests visit the rice terraces and local artworks, share dinner, and talk about village life.

To add more value, he applied for a donburoku sake brewing license in November 2020, receiving it five months later. He opened a small brewery, using rice from his terraces.

The business model ties hospitality to agriculture, with sake brewing as a third revenue stream. Akuzawa manages everything except meal preparation. He still travels to Tokyo for meetings but spends most days farming and brewing.

The broader thesis: Japan's rural villages are shrinking and aging. Vacant properties are abundant. Akuzawa argues that outsiders – Japanese or foreign – can create value by restoring these assets and building relationships with local communities.

"In Tokyo, success is often measured by growth, efficiency, and financial returns," he said. "In the countryside, it's measured through relationships, health, and a sense of community. The contrast taught me that wealth and happiness aren't always the same thing."

The rice terraces, he believes, remain undervalued. The model – buy, restore, cultivate, host – is replicable, he said. For investors willing to look beyond the usual metrics, the countryside may offer returns that don't show up on a balance sheet.