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1
Combine flour, sugar, and baking powder in a bowl. Add the beaten eggs and incorporate. Add water gradually, whisking until the batter flows freely from a spoon in a thin, unbroken ribbon — it must be fluid enough to fill the mold's extremities but not so thin it seeps through the seam. Thick, cakey batter produces a thick shell; this is a failure.
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2
Set the cast-iron taiyaki mold over a medium flame. Heat both halves evenly — a cold mold causes the batter to stick and tear on removal. The mold is ready when a drop of water flicked onto the surface skitters and vanishes immediately.
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3
Brush both inner surfaces of the mold thoroughly with neutral oil. Insufficient oil causes the shell to tear when the taiyaki is turned out.
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4
Pour batter into one half of the open mold, filling it until the cavity is just covered — enough to form a thin shell. Place the azuki paste precisely in the center of the batter. Off-center filling creates an uneven structure and compromises the seam. This is the step on which the dish lives or dies: the filling must sit centered and the batter quantity must be restrained — excess batter yields the thick, cakey shell that marks inferior taiyaki.
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5
Pour a small quantity of batter over the filling to cap it, close and lock the mold, and cook over medium heat for 3 to 4 minutes. The internal steam finishes cooking the shell from within.
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6
Flip the mold and cook the second side for a further 3 to 4 minutes. Open the mold: the shell should be uniformly deep golden and pull cleanly from the iron. A pale, damp shell requires more time; a scorched shell indicates excessive heat.
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7
Remove the taiyaki and rest briefly on a rack. The shell is done when it is thin, crispy, and audibly brittle on tapping — the mark of Naniwaya-style quality. A thick, soft shell is excess batter.