Rinse the azuki beans, then soak in cold water for at least 4 hours or overnight. Drain. Bring a pot with 4 cups of water to boil. Add the azuki beans and tangerine or orange peel, and simmer, stirring occasionally, for an hour.
Add the lotus nuts and simmer for another hour. Once the beans are tender and as soft as they are going to get (just starting to break apart) add the sugar. Stir until dissolved.
Variations: *Use brown instead of white sugar *Other versions of this dish are made with lotus roots or lily bulbs