The main objective of this research was to explore promoting and inhibiting factors of exercise among older women in Kyoto, Japan to seek effective strategies for exercise promotion. More specifically, this research aimed to explore the role of possible selves, which can influence the current view of self and act as an incentive for future behavior, as a facilitator and/or barrier to exercise. Data were collected using semi-structured questionnaires and in-depth interviews among women aged 65 and above in Kyoto city through snowball sampling from August to September 2018. Transcripts were analyzed using thematic analysis, then were summarized into a conceptual model. This research revealed a wide range of factors that promote or inhibit exercise. Beside well-known factors such as social factors, physical factors and beliefs about exercise, unexpected factors that seem strongly related to culture and aging in Japan were identified. The unique factors encapsulated in the category of {altruism} emerged as the significant barrier to exercise. In contrast, {egoism} emerged as an important facilitator of exercise. In conclusion, it may be possible to suggest that integrating the role of mother, wife, daughter or grandmother into exercise and its promotion may be beneficial for women aged 65 and above in Kyoto city. To generalize recommendations made, further research is required with a larger sample size and geographical area. Furthermore, findings may differ depending on the cultural background, generations and gender studied.