Jizo are one of Japan’s Buddhist deities. They are considered to be guardians or protectors of travelers, women, and especially children. Pregnant women often adopt or place a jizo statue at a temple to pray for the health of their unborn child, and many of the statues are placed to remember children who died before birth. Parents who have lost a child often dress a statue of jizo in a red bib or hat. The Jizo deity apparently hides children under his robes to protect them from demons and safely shepherd their souls to salvation.
Here is the gate of Eitai-ji Temple, Furusekimachi, Kofu-City, Yamanashi, the temple that features the jizo seen above.