What ANYCOLOR does

ANYCOLOR Inc. (formerly Ichikara Inc.) is a Tokyo-headquartered entertainment company founded in May 2017 by CEO Riku Tazumi and listed on the Tokyo Stock Exchange Prime Market (ticker 5032) since its June 2022 IPO. The company operates the NIJISANJI Project, Japan's largest multi-genre VTuber group with approximately 150 affiliated "livers" (virtual talents) producing daily content on YouTube and other streaming platforms, generating 58M+ combined subscribers and 3.68B annual video views. Core technology is built around Live2D and 3D avatar production, proprietary streaming and content management infrastructure, and in-house merchandise e-commerce platforms. Sub-brands include NIJISANJI EN (English-language, launched 2021), VirtuaReal (Chinese-language on Bilibili, launched 2019), and newer initiatives including the BY THE BEAT music unit and the Lie:verse Liars transmedia IP.

The business model is vertically integrated across talent management, content production, physical and digital merchandise (¥600–¥17,270 per SKU), music releases, live event production, and corporate promotion services. Revenue streams comprise: live streaming and Super Chat monetization, merchandise sales (physical apparel, acrylic goods, plushies, Blu-rays), music releases and concert Blu-rays, brand promotion/tie-up campaigns (ahamo, Duel Masters PLACE, Anideal, Shima Spain Village), and digital content/subscription services. Distribution combines proprietary storefronts (shop.nijisanji.jp Japan and EN) with third-party retail (Amazon.co.jp, Rakuten, Animate, Tower Records, HMV) and digital music platforms (Apple Music, Spotify). Talent development is supported by the Virtual Talent Academy, opened in June 2021.

FY2026 (ending April 2026) revenue reached ¥55.6B (a roughly 41% CAGR from ¥14.1B in FY2022), with operating profit of ¥20.2B (36.2% margin) and net profit of ¥14.1B. Headcount grew from 430 (FY2024) to 677 (FY2026). The company is pursuing international expansion through NIJISANJI EN, VirtuaReal, and participation in events such as Anime Festival Asia Thailand 2026, while diversifying into music (UNIVERSAL MUSIC partnership targeting a 2027 BY THE BEAT global label debut) and transmedia IP.

Name

ANYCOLOR

Legal name

ANYCOLOR株式会社 (ANYCOLOR Inc.)

Website

https://anycolor.co.jp

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

ANYCOLOR Inc. is a Tokyo-based, publicly traded entertainment company (TSE Prime: 5032) operating the NIJISANJI VTuber Project with ~150 affiliated talents across Japan, English-speaking markets, and China, generating revenue from merchandise, music, live events, streaming, and brand promotion partnerships.

Ownership category

akta.pro rank

Product category

VTuber Entertainment Services

NAICS

Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures (7114), Independent Artists, Writers, and Performers (71151), Graphic Design Services (541430)

SIC

Services-Mailing, Reproduction, Commercial Art & Photography (7330)

akta.pro primary industry

Creator Talent Management & Representation (MPAAAHAB)

akta.pro secondary industries

Creator Merchandise & Print-on-Demand Platforms (MPACAFAE), Creator & Fan Communities (BPAMABAD), Creator Marketplaces & Booking Platforms (MPACAGAB)

Keywords

• VTuber talent agency
• Virtual entertainment platform
• Live streaming services
• Digital content production
• Entertainment merchandise sales

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Live Streaming & Super Chat Revenue: ANYCOLOR livers generate revenue through YouTube live streaming, including Super Chat (super comments) and Super Thanks. The company takes a share of these platform-native monetization streams. This is a core driver of individual liver earnings and a portion flows to the company.
2. Merchandise Sales (Physical & Digital): Sale of official NIJISANJI-branded physical goods (T-shirts, acrylic keyholders, plush dolls, Blu-rays, mini albums, nail polish, etc.) through the official Nijisanji store and third-party retail partners, as well as digital goods. Products range from ¥600 to ¥6,000+, with regular limited-edition releases generating significant revenue.
3. Music Sales & Live Concert Tickets: Revenue from music album sales (solo and unit releases), single tracks, and live concert/Blu-ray releases. Examples include Kenmochi Toya's 'Augment' mini album (¥2,530–¥6,050), Inui Toko's 'One day' mini album (¥2,530–¥5,500), and Idios LIVE Blu-ray (¥17,270). Concert ticket sales supplement this stream.
4. Promotion & Brand Collaboration: Corporate promotion tie-up deals where livers feature or endorse brand products (e.g., ahamo, Duel Masters PLACE, Anideal fragrance, Shima Spain Village). This B2B revenue stream leverages high fan engagement and conversion rates.
5. Digital Content & Subscription: Fan club/membership services, voice content, and digital character goods. Digital content includes birthday voice packs, 'Voice Visual' products, and limited-edition digital collectibles sold through official storefronts.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

ANYCOLOR Inc. manages and develops approximately 150 VTuber talents under the NIJISANJI Project, producing daily live-streamed content on YouTube, music albums and singles, large-scale concert and event productions, and a broad catalog of physical and digital merchandise sold through its own storefronts and third-party retailers. The company also offers corporate brand promotion and tie-up services leveraging its engaged fan base, and operates the Virtual Talent Academy for talent development. International expansion includes NIJISANJI EN (English) and VirtuaReal (Chinese/Bilibili) projects.

Product overview

ANYCOLOR Inc. operates as a VTuber/Virtual Liver entertainment company offering a platform-plus-services model centered on the NIJISANJI Project. The core offering includes approximately 150 VTubers managed through comprehensive services: talent management and creator support, Live2D/3D model production, physical and digital merchandise, event production (including annual events like Nijisanji Koshien and concerts), and promotion/advertising services for corporate partners. The international expansion comprises NIJISANJI EN (English market) and VirtuaReal (Chinese market). The transmedia division produces IP-based content like the 'Lie:verse Liars' series. Supporting infrastructure includes the Virtual Talent Academy for talent development, the official NIJISANJI Store e-commerce platform, and music units such as BY THE BEAT. The company generates revenue through live streaming, merchandise sales (physical and digital), music releases (CDs, Blu-rays), event tickets, and promotional collaborations with brands.

Differentiator

Problem solved

Functional benefit

Brands

• NIJISANJI Project (にじさんじプロジェクト): VTuber/Virtual Liver group featuring approximately 150 influencers who operate on YouTube and other video streaming platforms
• NIJISANJI EN
• VirtuaReal Project
• Lie:verse Liars

Products and services

• NIJISANJI Project The primary VTuber/Virtual Liver group project featuring approximately 150 influencers who create content on YouTube and other video streaming platforms, encompassing talent management, event organization, merchandise and digital content production, and music creation.
• NIJISANJI EN English-language VTuber project operating in English-speaking regions with influencers active on YouTube and social media platforms, part of the Overseas VTuber business division.
• VirtuaReal Project Chinese VTuber group conducting influencer activities on the Bilibili platform in China, part of the Overseas VTuber business expansion.
• Lie:verse Liars A transmedia IP project set in a world where truth and lies have switched places, featuring multimedia content with anime-style storytelling where young 'awakened ones' confront incidents related to the appearance of a 'Fake World'.
• NIJISANJI Official Store Official e-commerce platform for NIJISANJI merchandise sales including physical goods, digital content, Blu-ray releases, and event tickets, available at shop.nijisanji.jp and the EN store with pre-orders, limited editions, exclusive bonuses, and international shipping.
• NIJISANJI Koshien Annual virtual baseball competition using Konami's Powerful Pro Yakyuu (Powerful Baseball) game, now in its 7th consecutive year, with ten VTuber team managers training characters through the 'Eikan Nine' mode and competing for the championship over 3 in-game years.
• Virtual Talent Academy VTuber talent development institution providing lessons in singing, acting, dancing, streaming technology, and live content planning, designed to develop long-lasting liver careers through audition and training programs.

Quantifiable outcome

• 58 million+ combined YouTube channel subscribers as of April 2024, up from 50 million in 2023
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• Konami Digital EntertainmentflagshipStrategic or Co-development Partner · 25 June 2026ANYCOLOR uses Konami's 'Powerful Pro Yakyuu' (Powerful Baseball) game series for the annual NIJISANJI Koshien virtual baseball competition, now in its 7th consecutive year. Ten VTuber team managers use the game's 'Eikan Nine' mode to train characters over 3 in-game years and compete for the championship.
• UNIVERSAL MUSIC LLCflagshipStrategic or Co-development Partner · 1 April 2026ANYCOLOR announced a strategic music production partnership with UNIVERSAL MUSIC LLC to train and produce music for the NIJISANJI EN VTuber unit BY THE BEAT. The partnership covers artist development, music production, and global distribution, with the unit's first original song 'Double Vision' released on March 28, 2026 and a major global label debut targeted for 2027. The production team includes Lauren Kaori, MONJOE, and R&B artist LOAR.
• Creator Economy Association (CEA)coreStrategic or Co-development Partner · 28 June 2023ANYCOLOR participates in the 'Anti-Defamation Task Force' (誹謗中傷対策検討会) established by the Creator Economy Association. The task force includes YouTube (Google), note, UUUM, Cover Corporation, and academic experts. It aims to share information among stakeholders, make policy proposals to government, and prevent defamation against all creators.
• Ahame Inc. (ahamo brand)minorGTM or Marketing PartnerNTT Docomo's ahamo mobile brand partnered with NIJISANJI for promotional content featuring livers, targeting the young demographic that engages with NIJISANJI VTubers.
• ANIDEA (Anideal fragrance brand)minorGTM or Marketing PartnerAnideal fragrance brand collaborated with NIJISANJI on a co-branded fragrance product line leveraging the VTuber IP for lifestyle merchandise.
• Shima Spain Village (三重度假村)minorGTM or Marketing PartnerShima Spain Village theme park collaborated with NIJISANJI livers for promotional campaigns and content featuring the park's attractions.
• KONAMI (Duel Masters PLACE)minorGTM or Marketing PartnerKonami's Duel Masters PLACE digital card game partnered with NIJISANJI livers for promotional content to reach the young gaming audience.
• Atelier colors Inc. (Atelier colors株式会社)coreOthersAtelier colors Inc. is a subsidiary of ANYCOLOR Inc., mentioned in the company overview as a group company. It may handle specific business operations within the ANYCOLOR group structure.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Cover Corporation (Hololive Production): Cover Corporation operates Hololive Production, the largest direct competitor to NIJISANJI in the VTuber agency space. It manages a comparable roster of virtual talent with English (Hololive EN), Indonesian (Hololive ID), and Japanese branches, runs similar merchandise and event businesses, and competes for the same brand collaboration and YouTube audience share.
• UUUM Inc. UUUM is a leading Japanese talent management and creator economy agency representing YouTube creators and influencers. It shares ANYCOLOR's core business model of monetizing digital talent through merchandise, brand deals, and events, and competes for the same roster of Japanese digital creators.

Regional players

• Bilibili Inc. Bilibili is the Chinese video platform that hosts ANYCOLOR's VirtuaReal Project and is itself a major operator of VTuber and virtual idol IP in China. It is a partial peer in the VTuber/IP-monetization space and a critical distribution partner for ANYCOLOR's China business.
• KLab Inc. KLab is a Japanese mobile game developer (Love Live! School Idol Festival) and a prior investor in ANYCOLOR. It is a regional peer in character-driven mobile IP with similar fan monetization and live event mechanics relevant to ANYCOLOR's music and merchandise businesses.

Broad incumbents

• Sony Music Entertainment Japan: Sony Music is one of the largest Japanese music labels, a long-standing music distribution and Blu-ray retail partner of NIJISANJI, and an investor in ANYCOLOR (per funding history). It overlaps with ANYCOLOR in music publishing, artist development, and IP merchandising at much greater scale.
• CyberAgent Inc. (ABEMA, Cygames): CyberAgent operates ABEMA streaming and Cygames anime/games businesses that intersect with NIJISANJI's content and audience demographics. It is a broader incumbent in Japanese digital entertainment with overlapping capabilities in live streaming, anime IP, and mobile gaming adjacent to VTuber content.
• ANYCOLOR (self) — KADOKAWA Corporation: KADOKAWA is a major Japanese anime, publishing, and live event conglomerate that overlaps with ANYCOLOR in anime IP production, music distribution (via its labels), and event business. It represents the scale incumbent that ANYCOLOR's transmedia projects (e.g., Lie:verse Liars) must compete against.
• Aniplex Inc. Aniplex, a Sony subsidiary, produces and distributes major anime, music, and live event franchises (Fate, Demon Slayer, etc.) that compete for the same Gen Z anime/otaku audience and live event spend that NIJISANJI targets.

Emerging players

• Bushiroad Inc. Bushiroad operates BanG Dream!, D4DJ, and other multimedia idol/character IP projects with VTuber-adjacent live concert and merchandise economics. It is comparable to ANYCOLOR in building integrated live-event-plus-merchandise franchises around character IP and is also a former employer of ANYCOLOR's executive officer Aki Iwakura.
• WACTOR Inc. (historical) / Brave Group: Brave Group operates multiple Japan- and global-focused VTuber/VLiver agencies and production studios (including VSPO!, Riot Music) and is one of the emerging third-party VTuber agencies competing with NIJISANJI for talent and corporate brand deals, particularly in esports and gaming-adjacent segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ANYCOLOR_Inc
• YouTubeyoutube.com/channel/UCX7YkU9nEeaoZbkVLVajcMg

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors7 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 ANYCOLOR