What Izanagi Games does

Izanagi Games (株式会社イザナギゲームズ) is a Tokyo-based interactive entertainment production and publishing company founded in December 2017 by CEO Shinsuke Umeda. The company produces and publishes original IP games across all major consumer platforms — Nintendo Switch, PlayStation 4/5, Xbox, Steam, iOS, Android, Apple Arcade, Meta Quest 2, PlayStation VR2, and PICO 4 — specializing in narrative-driven titles that include FMV (Full-Motion Video) interactive games (Death Come True, AKIBA LOST), adventure puzzle games (World's End Club, Dark Auction), shoot 'em up hybrids (Yurukill: The Calumniation Games), VR experiences (DYSCHRONIA: Chronos Alternate, Tokyo Chronos & ALTDEUS Twin Pack), and side-scrolling action games (AMEDAMA). Its published portfolio totals 8+ game titles, four of which have entered the Famitsu Golden or Silver Hall of Fame, and Death Come True was selected as App Store Best App for June 2020.

The business operates across four revenue streams: (1) one-time perpetual-license game sales through digital storefronts and Japanese physical retail at indie price points (e.g., 1,960 JPY digital / 3,800 JPY physical for Death Come True on Switch/iOS/Android; 4,928–5,478 JPY for World's End Club), (2) webtoon production and distribution via wholly-owned Tsukuyomi Studio on LINE MANGA, (3) merchandise sales through the Izanagi Z Store e-commerce outlet, and (4) contract game development and cross-platform porting services to external partners. Go-to-market combines event-driven exposure (Tokyo Game Show, BitSummit, WePlay Expo in Shanghai), platform-led distribution (Nintendo, Sony, Valve, Microsoft, Apple, BiliBili), and equity crowdfunding engagement via FUNDINNO.

The company's core creative engine is a partnership with Too Kyo Games (Kazutaka Kodaka, creator of Danganronpa; Kotaro Uchikoshi, creator of Zero Escape), supplemented by Grounding Inc. (Yukio Futatsugi, Panzer Dragoon), G.Rev (shoot 'em up development), and MyDearest Inc. (VR co-development). Strategic shareholders include BiliBili (via HODE HK Limited, the largest single investor at 429.8 million yen in February 2022), NetEase, COLOPL NEXT, Akatsuki, and Makers Fund; cumulative funding raised is approximately 900 million yen across rounds from 2021 to 2024. The company is privately held with a stated capital of 100 million yen and has expanded into adjacent entertainment verticals through the 90% acquisition of Ametsuchi, Inc. (stage, theater, video production) and the establishment of an original animation division under Takashi Taniguchi.

Name

Izanagi Games

Legal name

株式会社イザナギゲームズ

Website

https://izanagigames.co.jp

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Izanagi Games is a Tokyo-based interactive entertainment publisher producing and publishing original narrative-driven IP games (FMV, adventure, VR, shoot 'em ups) across console, PC, mobile, and VR platforms, with adjacent operations in webtoons, anime, and live entertainment.

Ownership category

akta.pro rank

Product category

Video Game Publishing

NAICS

Software Publishers (5132)

SIC

Services-Miscellaneous Amusement & Recreation (7990), Services-Computer Programming Services (7371)

akta.pro primary industry

Strategy/4X/Management Game Studios (MPAFAAAK)

akta.pro secondary industry

PC & Console Game Distribution Platforms (BPAMAKAA)

Keywords

• Console game publishing
• Interactive entertainment software
• Multi-platform game production
• FMV game development
• Video game publishing

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Supply Chain, Operations

Revenue model

1. Game Sales and Publishing: IzanagiGames produces and publishes consumer games on major console and PC platforms (Nintendo Switch, PlayStation, Steam, Xbox, iOS, Android). Revenue is generated from both digital download sales and physical retail editions of games.
2. Webtoon/Manga Publishing: In February 2022, IzanagiGames launched its webtoon studio 'Tsukuyomi Studio' to produce and publish webtoon/manga content. Currently publishing 'Slime Cherry Blossoms Bloom in Another World' and 'Level 9999: Interdimensional Bakumatsu Brigade' via LINE MANGA.
3. Merchandise and E-commerce: The company operates an official online merchandise store 'Izanagi Z Store' selling game-related merchandise and goods.
4. Equity Crowdfunding: The company has conducted equity crowdfunding via FUNDINNO platform, raising approximately 99.96 million yen with over 480 investors, the second highest in the country at the time.
5. Outsourcing and Development Services: The company offers game outsourcing and platform porting development services to other developers, recruiting freelance partners (2D, 3D, engineers) through its 'Izanagi Professional Bank' program.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

Izanagi Games produces and publishes original interactive entertainment IP globally across console, PC, and mobile platforms, with a portfolio spanning FMV games (Death Come True, AKIBA LOST), VR experiences (DYSCHRONIA: Chronos Alternate, TOKYO CHRONOS & ALTDEUS), adventure/puzzle titles (World's End Club, Yurukill), and action games (AMEDAMA, Dark Auction). Beyond in-house game publishing, the company operates Tsukuyomi Studio for webtoon production, offers contract game development and multi-platform porting services to external studios, and runs an official merchandise store (Izanagi Z Store).

Product overview

Izanagi Games is a Tokyo-based interactive entertainment producer and publisher specializing in console and mobile games. The company publishes original IP games directly to the global market, collaborating with Japanese creators and developers. Their portfolio includes FMV games (Death Come True, AKIBA LOST), adventure puzzle games (World's End Club), shoot 'em up hybrids (Yurukill), VR experiences (DYSCHRONIA, TOKYO CHRONOS/ALTDEUS), and action games (AMEDAMA, Dark Auction). The company also operates Tsukuyomi Studio for webtoon production and offers game development/porting services to external partners. All games are distributed across multiple platforms including Steam, Nintendo Switch, PlayStation, Xbox, iOS, and Android.

Differentiator

Problem solved

Functional benefit

Brands

• ツクヨミスタジオ (Tsukuyomi Studio): Webtoon production studio established in February 2022
• Izanagi Professional Bank

Products and services

• Death Come True Full-motion video (FMV) interactive movie game written and directed by Kazutaka Kodaka (creator of Danganronpa series), starring Kanata Hongo; players make choices affecting the story outcome and leading to multiple endings.
• World's End Club New wave action adventure puzzle game with scenario written and directed by Too Kyo Games (Kazutaka Kodaka and Kotaro Uchikoshi); developed by Grounding Inc. with character design by Take.
• Yurukill: The Calumniation Games Escape adventure and bullet hell shoot 'em up hybrid game based on original story by Homura Kawamoto (Kakegurui author), combining puzzle solving with shooting gameplay.
• DYSCHRONIA: Chronos Alternate VR mystery adventure game developed in collaboration with MyDearest Inc., part of the Tokyo Chronos/ALTDEUS universe; available on Meta Quest 2, PlayStation VR2, and PICO 4.
• AMEDAMA Side-scrolling, soul-shifting sandbox action adventure game available on Steam, Nintendo Switch, PS5, and Xbox.
• Dark Auction Mystery adventure game released in 2026 for Nintendo Switch, PlayStation 5, and Steam; entered the Golden Hall of Fame in Weekly Famitsu.
• AKIBA LOST Full-motion video multi-angle suspense game featuring real actors and interactive storytelling; awarded Japan Game Awards 2025 Future Division.
• TOKYO CHRONOS & ALTDEUS: Beyond Chronos Twin Pack

Quantifiable outcome

• Death Come True ranked 1st among digital-only games on the Japan Nintendo eShop at launch
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature3 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Cork, Inc.minorStrategic or Co-development Partner · 1 November 2022IzanagiGames entered a business partnership with Cork, Inc. in November 2022 through a third-party share allotment and capital business alliance. Details of the partnership scope were not fully disclosed.
• Ametsuchi, Inc.coreOthers · 1 September 2022IzanagiGames acquired a 90% stake in Ametsuchi, Inc. in September 2022, adding the company as a subsidiary to strengthen its presence in stage, theater, and video production. Ametsuchi produces the 'Nanaraki: Seven Lucky Gods' anime series.
• Osaka School of Music and agehasprings The Lab.minorStrategic or Co-development Partner · 1 March 2022In March 2022, IzanagiGames launched a collaboration project with Osaka School of Music and agehasprings The Lab. for music production and sound development support.
• MyDearest Inc.coreStrategic or Co-development Partner · 1 October 2021IzanagiGames entered a business partnership with MyDearest Inc. in October 2021. The companies co-produce VR titles including DYSCHRONIA: Chronos Alternate (Meta Quest 2, PS VR2, PICO 4 versions), Tokyo Chronos & Altdeus: Beyond Chronos Twin Pack. MyDearest is a studio specializing in VR narrative games.
• Too Kyo GamescoreStrategic or Co-development Partner · 1 July 2021Too Kyo Games, led by Kazutaka Kodaka (creator of Danganronpa) and Kotaro Uchikoshi (Zero Escape series), writes and directs IzanagiGames' flagship titles including Death Come True, World's End Club, and Yurukill. Too Kyo Games is the creative engine behind the company's narrative-driven games.
• LINE MANGA (LINE Corporation)minorChannel Partner/ Reseller/ Distributor · 1 July 2021IzanagiGames' Tsukuyomi Studio publishes webtoons through LINE MANGA platform. The company's webtoons 'Slime Cherry Blossoms Bloom in Another World' and 'Level 9999: Interdimensional Bakumatsu Brigade' are distributed via LINE MANGA.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Spike Chunsoft: Japanese narrative adventure game developer and publisher behind Danganronpa and AI: The Somnium Files. Closest direct peer because IzanagiGames' Too Kyo Games principals (Kodaka, Uchikoshi) previously created their flagship franchises at Spike Chunsoft, and both companies target the same narrative adventure audience on Nintendo Switch and PlayStation.
• NIS America: US subsidiary of Nippon Ichi Software that publishes Japanese niche JRPGs, visual novels, and adventure games in Western markets. Comparable as a publisher of mid-budget Japanese narrative games on multi-platform Western storefronts (Steam, Nintendo eShop, PlayStation Store).
• Aksys Games: Publisher specializing in Japanese visual novels and narrative-driven games (Otomate line, Code: Realize, Collar x Malice). Highly comparable niche focus on story-rich Japanese titles with multi-platform English localization.
• Too Kyo Games: Japanese game studio led by Kazutaka Kodaka and Kotaro Uchikoshi — IzanagiGames' principal creative partner. Too Kyo Games writes and directs IzanagiGames' flagship titles (Death Come True, World's End Club, Yurukill, Dark Auction) and is also the creative engine behind competing/co-creating narrative IP.
• MyDearest Inc. Japanese VR narrative game studio behind Tokyo Chronos, ALTDEUS, and the DYSCHRONIA series co-developed with IzanagiGames. Comparable as a small Japanese studio specializing in narrative-driven interactive entertainment with VR expertise.

Broad incumbents

• Level-5: Established Japanese game developer behind Professor Layton, Yo-kai Watch, and Fantasy Life. Comparable as a Japanese multi-platform narrative adventure developer, though at significantly larger scale and broader portfolio scope.
• Annapurna Interactive: US-based indie game publisher known for narrative-driven titles (Stray, Disco Elysium, 13 Sentinels Western release). Comparable for the editorial curation of story-rich games targeting console and PC audiences.
• Devolver Digital: Major indie game publisher with narrative and experimental titles in its portfolio. Comparable as a multi-platform indie publisher that helps smaller studios reach global Steam, console, and mobile storefronts.
• Marvelous Inc. Tokyo-based Japanese game publisher and developer (Story of Seasons, Rune Factory, Senran Kagura). Comparable as a Japanese multi-platform publisher with both internal development and third-party publishing activities.
• Square Enix (Narrative Division): Major Japanese publisher whose narrative adventure titles (13 Sentinels: Aegis Rim, Life is Strange series) compete with IzanagiGames' FMV and mystery adventure games on the same platforms and demographics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/izanagigames
• YouTubeyoutube.com/c/IzanagiGamesChannel
• Facebookfacebook.com/izanagigames

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Izanagi Games