<p>Despite extensive efforts to internationalize Japan’s higher education, the outcomes of these initiatives remain misaligned with the broader internationalization agenda, both in theory and practice. This study aims to inform future government policies on internationalization by examining the impacts of these efforts through the roles played by international academics in Japan. To provide a comprehensive understanding of their transformative yet complex roles, the study adopts a multi-stakeholder approach, utilizing semi-structured interviews with international academics, international students, Japanese academics, university administrators, and Japanese local government officials. A capital-based perspective proposed by Bourdieu (2018) is applied in the study as a theoretical lens. The data analysis identifies four key forms of capital that international academics catalyze in Japan: cultural, social, economic, and symbolic. The forces from both the external environment and internal contexts contribute to the specific and multifaceted roles of international academics, which align with global trends while also addressing the localized internationalization needs in Japan. The study presents a significant analytical framework not only for recognizing the importance of international academics but also for advancing internationalization as a key driver of the global competitiveness of Japanese HEIs and the <i>Tabunkakyosei</i> initiatives within Japan’s evolving global society, reinforcing existing evidence and challenging the notion that internationalization efforts lack meaningful practical contribution.</p>