The word “value” is used a lot. Particularly, Toyota Production System is used to eliminate waste and create valuable products. Among them are value analysis tools such as Value Stream Mapping. Its main approach is the reduction of waste, and the reduction of waste from the whole is regarded as value. In other words, the focus is on the waste, not value. This paper reports on a project in progress. In this project, we are developing “Value Karuta”, which is an application of traditional Japanese card game Karuta. The purpose of this article is to find the elements that make this game effective as a tool for understanding value. The research method is a PDCA cycle suitable for improving products. We are planning and implementing this game for two groups, college students and business persons. We also conducted a questionnaire to the participants to confirm and evaluate this game. From the results, we have confirmed three elements of VK that promote understanding of value: (1) nostalgia and design, (2) naming and the type of Japanese, and (3) implementation environment.