Although AirAsia is a Malay company, the new venture will be a Japanese Airline. It has to be to access routes - AirAsia doesn't have cabotage out of Japan.
Also look at the breakdown on ownership posted in the Articles above.
The aircraft will be JA registered. Agree with your comments on the Q400 contract, but those aircraft are underneath the radar of the ANA pilots union, who are the prime driver of the 'no resident gaijin policy'
Regardless, hopefully it will provide some opportunities for the out of work JAL guys as well as current Air Asia pilots.