Japan comprises four main islands, with Kyushu (36,753 km²) being the southernmost. However, as of 2016, approximately 41,000 km² of land—larger than Kyushu—remains classified as “unclaimed land,” where ownership is unclear due to deceased titleholders not having registered heirs or losing contact with legal owners. This area is 67 times the size of Seoul and accounts for 24% of Japan’s total land.
A study by the Abandoned and Unclaimed Land Issues Research Group, based on data from Japan’s Ministry of Land, Infrastructure, Transport, and Tourism since January 2017, warns that if left unaddressed, the issue could grow to 72,000 km² (about 7.2 million hectares) by 2040—equivalent to about 90% of Hokkaido’s landmass (83,500 km²).
The rise in unclaimed land is driven by multiple factors. Population decline and aging have reduced the value of land as an asset, weakening the incentive to own property. During Japan’s economic boom, land demand soared, but after the bubble burst, property values plummeted, making sales or even rentals difficult. Additionally, registering inherited land comes with property taxes and maintenance costs, leading many heirs to avoid the process.
This trend is particularly evident in cases where individuals move to major cities like Tokyo, Osaka, and Nagoya, leaving behind rural property upon their parents' passing. Many heirs skip inheritance registration to avoid legal fees, acquisition taxes, and property tax burdens. With Japan’s rapidly aging population, the number of deaths is expected to increase by 400,000 annually compared to 2015 levels from 2030 onward, further exacerbating the issue.
South Korea, facing similar challenges of declining birth rates, aging demographics, and urban concentration, could see a rise in unclaimed land in rural and low-demand areas, leading to increased social costs. When land ownership is unclear, tax collection becomes difficult, and administrative costs for locating owners grow, resulting in significant economic losses. The Abandoned and Unclaimed Land Issues Research Group estimated that in 2016 alone, the cost of unclaimed land in Japan amounted to 180 billion yen. By 2040, this figure is projected to reach 310 billion yen, with cumulative losses from 2017 to 2040 expected to hit 5.91 trillion yen.
To address the growing problem, AGE technologies (AGE tech), a Japanese startup, offers an online service that simplifies complex inheritance procedures. In a written interview with ChosunBiz on January 20, CEO Yuta Shiobara (33) explained, “Inheritance registration and bank asset transfers are known to be complicated. AGE tech’s platforms, ‘so-zo-ku.com Real Estate’ and ‘so-zo-ku.com Bank Accounts,’ reduce the burden and streamline inheritance procedures.”
What inspired you to establish AGE technologies in 2018?
“Before founding AGE technologies, I worked at a consulting firm specializing in business succession and inheritance planning for small and medium-sized enterprise (SME) owners. While we provided expert guidance on equity transfers and inheritance tax strategies, the service was expensive and inaccessible to many. In Japan, only 10% of the population belongs to the wealthy class. Leveraging my experience in advertising and app development, I launched AGE tech to address the inheritance challenges faced by the remaining 90%.”
Why did you choose “AGE technologies” as your company name? Was expansion beyond inheritance services a consideration?
“Around 2020, I learned that in Silicon Valley, technologies aimed at solving aging-related issues were referred to as ‘Age Tech.’ Our core service, ‘Sozoku.com Real Estate,’ aligns with this mission by tackling challenges arising from an aging society. Future services will maintain the same objective, which is why we adopted the name AGE tech—to position ourselves as a leader in this field.”
Can you explain the services provided by AGE technologies?
“AGE technologies operates two services that simplify complex inheritance procedures via smartphones: Sozoku.com Real Estate [launched in January 2020] and Sozoku.com Bank Accounts [launched in May 2022]. Sozoku.com Real Estate handles property ownership transfers related to inheritance, while Sozoku.com Bank Accounts manages withdrawals from inherited bank accounts and deposits. Both services maximize user convenience through an internet-based system that automatically generates various application forms. Additionally, users can track the progress of all procedures in real time from anywhere via their smartphones. The service fees are fixed, regardless of the number of heirs or the size of the assets. Having processed over 40,000 inheritance cases, we believe this track record has earned us a strong reputation for reliability.”
Real estate values remain high in South Korea, making it difficult to understand why people in Japan avoid registering inherited properties. Why is this happening?
“There are two main reasons. First, Japan’s inheritance procedures are complex. Heirs must comply with civil law requirements, gather family registry documents, create a family tree, and prepare numerous application forms, all of which are time-consuming. The difficulty of the process discourages many from registering inherited property. Additionally, most heirs no longer live in their hometowns, making them less inclined to claim property.
Each year, approximately 50 trillion yen (461.17 trillion won) worth of assets is passed down through inheritance in Japan, equivalent to 10% of the country’s gross domestic product. However, most of these assets are transferred to Tokyo, as heirs have moved to urban areas. Many of these city residents see no use for rural property and prefer to avoid annual property taxes rather than inherit it."
How many documents are required for inheritance registration? Can’t people resolve these issues directly at government offices?
“The number of required documents varies depending on the inheritance method and family circumstances, but generally, heirs must prepare 10 to 20 different forms. With ‘so-zo-ku.com Real Estate,’ users can answer a few simple questions on their smartphones and generate the necessary documents within minutes. The service is designed to be intuitive and user-friendly, requiring no specialized knowledge. Government offices do offer in-person assistance, but traditional procedures are inefficient. Appointments must be scheduled in advance, and obtaining a single document can take over 30 minutes. ‘so-zo-ku.com Real Estate’ saves time and effort, allowing users to focus on the inheritance process without unnecessary delays.”
Why did you adopt a fixed-fee model for so-zo-ku.com Real Estate? Was it a strategy to attract more users?
“The fixed-rate pricing is a key differentiator. We charge a flat fee of 85,000 yen (780,000 won), excluding taxes, regardless of the number of heirs or asset types. This pricing model was deliberately designed to make our services accessible to people across Japan. The number of heirs or types of assets does not necessarily indicate wealth. For instance, inheriting multiple farmland plots or forests does not equate to an increase in financial assets. We want ‘so-zo-ku.com Real Estate’ to be a service that anyone in Japan can use, regardless of their financial status. By eliminating concerns about additional costs, we hope to contribute to improving Japan’s real estate environment.”
What are your plans for future services and business expansion?
“Between 2020 and 2024, we processed over 40,000 inheritance cases, but this accounts for less than 1% of annual inheritance cases in Japan. We aim to expand our marketing efforts to reach more users. Additionally, we plan to enhance our post-inheritance services, such as property sales, vacant home management, and cleaning services, to provide comprehensive support from inheritance to property utilization. We also seek to raise public awareness about Japan’s newly implemented mandatory inheritance registration law.”
Since April 1, 2024, the Japanese government has required heirs to register inherited land within three years of becoming aware of their ownership. Failure to comply without valid reasons results in fines of up to 100,000 yen (920,000 won).
Do you have any plans to expand into South Korea?
“Not at the moment. However, we aim to assist Japanese citizens living abroad, including in South Korea, with inheritance issues and asset management in Japan. Currently, over 40,000 Japanese nationals reside in South Korea, and our service can help them navigate inheritance matters more easily.”
