The 18m high Hotei Buddha was erected in 1954 by Maeda Hidenobu, a successful local Moxibustion practitioner in thanks for his successful business. It was the largest privately owned Buddha in Japan, and standing 18m high means the Hotei Buddha is larger than both the Great Buddha of Nara (14.98m) and the iconic Great Buddha of Kamakura (13.35m). The face of the Hotei Buddha appears less serine than that of the Buddhas of Nara and Kamakura, and more grandfatherly in appearance as it watches over the small township around it.

Said to be able to heal the sick and guide believers along the road to enlightenment, the statue is popular with photographers enjoying the juxtaposition between the ancient styled Buddhist statue and modern surrounds. It is just as popular with the locals, particularly during the cherry blossom season when it seems to float on a cloud of pink flowers, also year-end and the New Years holiday seasons when the Buddha is illuminated at night.

Even today, people taking the Meitetsu Inuyama line still crane their necks to see the Great Hotei Buddha as they pass by.