I didn't realize that the ball with hairs is actually the flower. I was always looking for the male flower.
Paper Mulberry is a deciduous tree growing to 15 m tall, native to Japan and neighbouring areas. The leaves are variable in shape, just like Mulberry leaves. They can be ovate heart- shaped to deeply lobed. They are 7–20 cm long, with a rough surface above, fuzzy-downy below and a finely toothed margin. The male flowers are produced in an oblong inflorescence, and the female flowers occur in a ball, with long hairs on the surface. In summer, the female flower matures into a red to orange, sweet, juicy fruit 3–4 cm diameter, which is an important food for wild animals. The fruit is edible and very sweet, but too fragile to be commercialised. The bark is composed of very strong fibres, and can be used for making high-quality paper. The tender leaves and twigs can be used to feed deer, and the tree is sometimes nicknamed the "Deer's Tree".