This article provides a critical review of the results of the Asuka Historical Museum’s excavation of the Asukadera wooden pagoda site in Japan since 2015, and its implications for Buddhist cultural exchange in East Asia. The second section examines the Asuka Historical Museum’s categorization and scientific analysis of the beads, pearls, horse gear, earrings, gold and silver artifacts, mica, and śarīra containers. We assert that most objects excavated from the Asukadera wooden pagoda site are relics from the Asuka era (538–710), when the pagoda was first established in 593, and only a limited number of artifacts, such as the śarīra [relics] container, were added after the wooden pagoda was burned down in 1196. The third section compares the archeological remains from the Asukadera wooden pagoda site and the reliquary objects from the Paekche Wanghŭng-sa site (577) and Mirŭk-sa site (639), which have been conventionally considered to be its models. What the relics from these three historical sites have in common is that they include clothing accessories nobles wore as they participated in the Buddhist rituals of enshrining the śarīra in a wooden pagoda. However, some differences in the metallic craft items, such as crowns and belts, were still found between Paekche and Japan, which was due to the difference in costume styles in the respective countries at the time. Also, horse gear and lamellar armor unearthed from Asukadera sites was not found in Paekche temple sites, but is similar to earlier Japanese kofun (megalithic tumuli) grave goods, which provides evidence that as Buddhism was transferred to Japan from Paekche, it was not accepted in completely the same form.