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Recently societal requirements have become so complicated that the current Internet is facing many challenging issues to overcome. Several task forces have been working on research on the future Internet in a clean slate manner and mobility management is one of the key issues to be considered. Mobility management in the future Internet is still designed in an “all-in-one” way where all management functions are tightly kept at a single location and this results in cost inefficiency and can be an obstruction to constructing flexible systems. In this paper, we propose a function-distributed mobility management system that can enable more flexible future Internet construction. Furthermore, we show the effectiveness of our proposed system via the cost analysis with a random walk mobility model.