Ricecurry

What Ricecurry does

MUSCAT GROUP Inc. (株式会社マスカットグループ, TYO: 195A) is a Tokyo-based, Shibuya-headquartered Japanese brand production company founded in 2016. It combines M&A, brand-building expertise, and digital transformation to acquire, develop, and scale consumer brands while preserving their operational autonomy. The portfolio spans oral beauty (MiiS), cosmetics (Fujiko, via Kanarabo), hair care (bialne), kids/teen lifestyle goods (Matsumura Shoten / 松村商店), and mobility (MOVE.eBike). Underpinning the portfolio is CCXcloud, an in-house cloud-based technology platform positioned as a core business domain for digital solutions across acquired brands.

The company makes money by acquiring or partnering with consumer brands, then applying its proprietary digital transformation and e-commerce (EC) playbook to drive top-line growth, as evidenced by the documented 1,400% revenue growth achieved at portfolio company Matsumura Shoten. Go-to-market is sales-led with a heavy direct-to-consumer tilt: own storefront EC sites, SNS-driven product discovery (used both as marketing and as demand-sensing input), and emerging public-sector channels such as the Shibuya hometown-tax certification for MOVE.eBike. Customer segments are predominantly end consumers of acquired/partnered brands, with internal 'customers' effectively being the founders and management teams of brands the group has integrated.

Revenue mechanics blend one-time/M&A-driven brand consolidation with recurring consumer brand sales through owned e-commerce channels. Pricing is not publicly disclosed. The company is publicly listed on the Tokyo Stock Exchange under ticker 195A, recently IPO'd, and operates with 101–250 employees out of the Shibuya Mark City West building (20F) in Tokyo, Japan.

Name

Ricecurry

Website

https://ricecurry.co.jp

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

MUSCAT GROUP Inc. is a Tokyo-listed Japanese brand production company that acquires and scales consumer brands in beauty, oral care, cosmetics, hair care, kids goods, and mobility by applying M&A, digital transformation, and data-driven product development while preserving brand autonomy.

Ownership category

akta.pro rank

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Brand Production and Management: MUSCAT GROUP generates revenue by producing, acquiring, and managing consumer brands. They combine M&A activities with brand development expertise to grow brands in the beauty, oral care, and lifestyle categories.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Ricecurry (source data on MUSCAT GROUP Inc.) is a Japanese brand production company that acquires, develops, and grows consumer brands across oral beauty, cosmetics, hair care, lifestyle goods, and e-mobility through M&A integration and digital transformation. The company runs two main business domains — Brand Produce (M&A-led brand creation and management) and Brand Partner (partnered brands) — supported by the CCXcloud technology platform and direct-to-consumer e-commerce distribution.

Product overview

MUSCAT GROUP operates as a brand production company with multiple business domains and owned/acquired brands. The portfolio includes CCXcloud (technology platform), oral beauty brand MiiS, acquired cosmetics brand Fujiko, partnered hair care brand bialne, e-Bike product line MOVE.eBike, and revived kids goods manufacturer Matsumura Shoten.

Differentiator

Problem solved

Functional benefit

Products and services

• CCXcloud Cloud-based technology platform and digital solutions business domain under MUSCAT GROUP, supporting digital transformation for owned and acquired brands.
• MiiS Oral beauty brand that redefined oral care as beauty, created by identifying unmet needs through SNS behavioral data and developing age-optimized value propositions for younger consumers.
• Fujiko Popular cosmetics brand under Kanarabo (かならぼ) that joined MUSCAT GROUP through M&A, maintaining brand autonomy while expanding growth internationally and into niche markets.
• bialne Popular hair care brand developed by a mother of nine children, known for selling out immediately upon release; features limited edition "adult pink" bottles with seasonal scents such as fresh floral fragrance.
• MOVE.eBike Electric bicycle (e-Bike) product line with three models, certified as Shibuya district's first e-Bike return gift for the hometown tax (ふるさと納税) donation program.
• Matsumura Shoten (松村商店) Kids and teen lifestyle goods manufacturer that achieved 1,400% revenue growth following digital transformation and EC (e-commerce) implementation under MUSCAT GROUP.

Quantifiable outcome

• 1400% revenue growth achieved for Matsumura Shoten through digital transformation

Named customers4 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Kanarabo (かならぼ)coreStrategic or Co-development Partner · 1 January 2025Kanarabo operates popular cosmetics brand Fujiko and joined MUSCAT GROUP for growth expansion. The partnership focuses on expanding global niche markets while maintaining brand autonomy.
• Matsumura Shoten (松村商店)minorStrategic or Co-development PartnerKids and teen lifestyle goods manufacturer that underwent V-shaped recovery (1400% growth) after MUSCAT GROUP's digital transformation and EC implementation support.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Market position

Strengths4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MUSCATGROUP.co.jp

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Ricecurry