Japanese distance education has been slow to utilize the Internet, and mainly depends on the mail system and, to a lesser extent, television broadcasting as its mode of delivery. Since 2001, however, regulations have been relaxed to allow students to complete all course requirements for a university degree via online distance learning. This paper reports the results of a questionnaire study administered to the students (N = 424) enrolled in one of Japan's few online distance universities. Satisfaction with learning was explored by examining students' opinions and learning preferences in regard to five aspects of distance learning identified as important: (1) learner-teacher interaction, (2) learner-content interaction, (3) learner-learner interaction, (4) learner-interface interaction, and (5) student autonomy. In addition, the analysis included students' responses to three open-ended questions. Results indicate that students were generally satisfied with their learning, and that, specifically, learning satisfaction was higher for students who: (1) could persevere in the face of distance learning challenges, (2) found computers easy to use, (3) found it easy to interact with instructors, and (4) did not prefer social interaction with others when learning. (Contains 11 tables.)