The White Leaf is a special item found inside the basement of the Hazuki Dojo, hidden inside one of Iwao's books. The leaf was presumably kept safe by Iwao as some sort of memento, but the significance of keeping the leaf is not yet known.
Related ThreadsThe White Leaf - last post by @ Mar 17, 2003
white leaf - last post by LanDi Sama @ Sep 16, 2006
the white leaf - last post by @ Jun 13, 2002