How Real Is the Rent-a-Girlfriend Service in Japan?

Is ‘Rent-a-Girlfriend’ actually real in Japan?
I’ve seen it in videos, news articles, and even anime, but I’m not sure how accurate it is.

If it is real, how does the process work?
Is it a normal social service, something like paid companionship, or is it more like a professional ‘hanging out’ service?

If anyone has real information about how it works — or personal experience using it — I’d love to hear about it.
Just curious and trying to understand how true this is in real life

by tony9849g