ANA Holdings backs housing startup as Japan tackles ageing population challenges

ANA Holdings announced an investment in ADDress, a Tokyo-based startup that offers a subscription service for multi-location living. 

Through its venture capital arm, the ANA Future Frontier Fund, the airline group is backing a company that’s trying to solve one of Japan’s most pressing social problems: what happens when rural towns empty out and homes sit vacant?

How ADDress works

For a monthly fee, ADDress members get access to furnished homes scattered across Japan. Instead of signing a traditional lease, subscribers can move between locations, spending a week in a coastal town, a month in the mountains, or splitting time between the countryside and the city.

The model is sometimes called “address-hopping,” and is designed for people who want flexibility without the burden of maintaining a permanent home. Remote workers, digital nomads, and people simply looking for a change of pace have gravitated toward the service.

Each location is supported by community managers called “Yamori,” who help connect newcomers with local resources and residents. It’s part housing service, part community-building effort.

Why an airline cares about housing

At first glance, an airline investing in a housing startup might seem like an odd fit. But for ANA Holdings, the connection is strategic.

Japan’s population is shrinking and increasingly concentrated in major cities like Tokyo and Osaka. Rural areas are losing residents, and with them, the demand for domestic flights. By supporting services that encourage people to spend time outside urban centers, ANA is essentially investing in reasons for people to travel within Japan.

The two companies have already worked together on pilot programs. This deeper partnership will focus on regional revitalization efforts, including government initiatives designed to encourage people to split their time between cities and rural communities.

A country full of empty houses

The investment also reflects a broader challenge facing Japan. As the population ages and young people move to cities, rural towns are left with growing numbers of vacant homes, known as “akiya.”These abandoned properties have become a visible symbol of demographic decline.

ADDress solves this directly by converting empty houses into shared living spaces. It brings activity back to quiet neighborhoods while giving the homes a second life.

Beyond economics, there’s a social dimension. Shared living spaces can reduce isolation for both newcomers and longtime residents in aging communities, creating opportunities for connection that might not otherwise exist.

Japan is the world’s fastest-aging society. By some estimates, more than 30% of the population will be 65 or older by 2025. That shift is reshaping everything from healthcare to housing to transportation.

For ANA Holdings, investing in ADDress is one piece of a larger strategy to diversify beyond traditional airline operations. The ANA Future Frontier Fund, launched in April 2024 with JPY 8 billion (US $50,000) targets startups working on next-generation mobility, sustainability, and customer-focused services.

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