Situated in a rice field, by the Tone river in the town of the same name, the Hanyu distillery was founded in April 1946. The distillery was the addition to the sake brewery of the Akuto family who had been in the distilling business since the 17th century.

The company went bankrupt in 2004 and ceased production, having all the stills dismantled. However the malt whisky stocks of the Hanyu, unwanted by the new owners, were fortunately salvaged by Ichiro Akuto, the grandson of Hanyu's founder.

Ichiro, a former brand manager for Suntory, begun a new chapted in the history of the now closed distillery. He introduced Ichiro's Malt, bottling Hanyu's old stocks with a distinctive label featuring playing cards figures. Aside Ichiro's malt the Chichibu label (10, 14y.o. malts and the Golden Horse malt) also uses single malt from Hanyu.