The syrup, called mizuame ("water candy"), is traditionally made by mixing rice with malt, a process by which the starch is naturally transformed into sugar. A bit too sweet for me, but delicious if you like sweets...
EXIF info:
Nikon D90
Lens: 18-70mm F/3.5-4.5G
Focal Length: 70mm
Aperture: F/5.6
Shutter Speed: 1/200s
ISO Sensitivity: ISO 200