Kakehashi Games
Kakehashi Games is a boutique indie game publisher founded in Tokyo in 2013, now based in Sapporo, Japan, that bridges East and West markets by publishing over 300 titles across major Japanese storefronts and globally since 2023.
- Company typePrivate
- Founded2013
- HeadquartersTokyo, Japan
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
What Kakehashi Games does
Kakehashi Games (legal name Kakehashi Games合同会社 / Kakehashi Games LLC) is a boutique video game publisher founded in Tokyo in 2013 and currently registered in Sapporo, Hokkaido. The company serves as a bridge publisher between East and West gaming markets. Originally focused on bringing Western indie games into Japan, it has published over 300 titles including Hollow Knight, Dead Cells, Sea of Stars, Enter the Gungeon, and Cult of the Lamb. Core services include Japanese, Korean, and Chinese localization, CERO rating acquisition, marketing and PR, metadata editing for storefronts, domestic event operations, and both digital and physical distribution across Nintendo eShop, PlayStation Store, Steam Japan, Microsoft Store, and Japanese physical retail partners.
Since 2023, Kakehashi Games expanded into worldwide publishing, bringing Asian indie titles such as SONOKUNI (DON YASA CREW), Serial World (Serial Project), Sagres (Ooze), and Epoch Reset (Abner Tolentino) to global markets. Customers are independent game developers and publishers of all sizes, with named relationships spanning Devolver Digital, Team17, Raw Fury, The Game Bakers, Tribute Games, Hyper Games, Fabraz, Bandai Namco Studios Singapore, and IP holders including Moomin Characters and Universal Products & Experiences. The company is part of the Combined Effect ecosystem alongside Raw Fury and Fury Studios, with Combined Effect CEO Pim Holfve appointed in November 2024 and the group reporting 43% revenue growth in 2025.
Revenue is generated primarily through one-time game software license sales (digital downloads and physical editions priced ¥1,700–¥13,970) plus a smaller merchandise stream (t-shirts, plush toys, pins, stickers priced ¥1,100–¥5,500) sold through the company-operated web store. The company operates with a small, lean team and maintains direct publisher-developer relationships rather than a self-service platform model. No AI/ML capabilities, proprietary technology platforms, or SaaS products are disclosed; the core capability is localization, regulatory (CERO) navigation, and multi-platform Japanese distribution know-how accumulated over a decade.
Kakehashi Games firmographics
Firmographics- Name
- Kakehashi Games
- Legal name
- Kakehashi Games合同会社
- Website
- https://kakehashigames.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Short description
- Kakehashi Games is a boutique indie game publisher founded in Tokyo in 2013, now based in Sapporo, Japan, that bridges East and West markets by publishing over 300 titles across major Japanese storefronts and globally since 2023.
- Ownership category
- akta.pro rank
Kakehashi Games industry classification
Industry- Product category
- Indie Game Publishing
- NAICS
- Hobby, Toy, and Game Retailers (45912), Software Publishers (513210)
- SIC
- Retail-Hobby, Toy & Game Shops (5945)
- akta.pro primary industry
- Regional/Local Market Publishers & Distributors (Territory Rights, Localization-led Publishing) (MPAFABAH)
- akta.pro secondary industries
- Publishing Services Providers (Ratings, Compliance, Certification, Release Ops) (MPAFABAL), Mobile Game Publishing & App Game Stores (BPAMAKAB), Video Game Software (Physical & Digital Code) Retail (CRACAFAB)
Keywords
Where Kakehashi Games is headquartered
LocationHeadquarters
- HQ city
- Tokyo
- HQ country
- Japan
- HQ region
- Asia
Offices2 records
Markets served
Kakehashi Games business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain
Revenue model
- Game Software Sales: Kakehashi Games sells game software both digitally through Nintendo eShop, PlayStation Store, Steam, and Microsoft Store, as well as physically through retail channels. Games include titles like Hirogami (PS5, ¥6,380), RUINER (Switch, ¥4,480), Enter the Gungeon (Switch, ¥3,480), and others with prices ranging from ¥1,700 to ¥6,380.
- Merchandise Sales: The company operates a web store selling branded merchandise including Fall Guys items (t-shirts ¥3,300-¥4,070, pins ¥1,320, stickers ¥1,100, patch sets ¥2,200), Enter the Gungeon merchandise (t-shirts ¥3,300-¥5,500, beanies ¥2,200), and PHOGS! plush toys (¥2,310).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Digital game downloads |
| Unit Pricing | Pay-as-you-go | Physical game editions |
| Unit Pricing | Pay-as-you-go | Merchandise items |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels4 records
Kakehashi Games product offering
Product offeringCore offering
Kakehashi Games is a boutique indie game publisher that operates as a bridge between Eastern and Western gaming markets. Founded in Tokyo in 2013 and now headquartered in Sapporo, the company brings Western/indie titles into Japan and, since 2023, brings Asian indie titles out to global markets. Its core offering is end-to-end publishing services—Japanese/Korean/Chinese localization, CERO rating acquisition, marketing and promotional support, metadata editing, and physical/digital distribution—alongside direct sales of published game software and branded merchandise through its own web store and major storefronts.
Product overview
Kakehashi Games is a boutique publishing team founded in Tokyo in 2013 that serves as a bridge between East and West gaming markets. Originally focused on bringing Western indie games to Japan through comprehensive publishing services (Japanese/Korean localization, marketing, CERO ratings, publishing support), the company expanded in 2023 to become a worldwide publisher also bringing Asian indie games to global markets. The product portfolio consists of published indie game titles across multiple platforms (PC/Steam, Nintendo Switch, PlayStation 5, Xbox), with recent notable releases including Serial World (2026), Epoch Reset (2027), Moomintroll: Winter's Warmth (2026), Hirogami, SONOKUNI, and SAGRES. Services include complete publishing support from localization through marketing and distribution, enabling developers without Japanese publisher partnerships to release titles in Japan. The company has helped release over 300 acclaimed indie titles including Hollow Knight, Sea of Stars, Dead Cells, Eastward, and Enter the Gungeon.
Differentiator
Problem solved
Functional benefit
Products and services
- Publishing Services (Japan-focused) End-to-end publishing support for indie developers and publishers seeking to release titles in Japan: Japanese localization by native speakers, CERO rating acquisition, marketing and promotional support, storefront metadata editing, and domestic event operations.
- Worldwide Publishing Services Worldwide publishing and distribution services for Japanese and other Asian indie game developers seeking to release titles globally (outside Asia), including coordination of English and European-language localization, global marketing, and storefront relationships.
- Hirogami Origami-themed action platformer in which players explore a papercraft world as Hiro, who transforms into animal forms (armadillo, ape, frog, bird) to overcome obstacles. Features a Japanese soundtrack with traditional instruments. Worldwide publishing by Kakehashi Games on PC and PS5.
- RUINER (Nintendo Switch Package Edition) Cyberpunk action game published by Kakehashi Games for Nintendo Switch with Japanese localization and physical package distribution in Japan.
- Enter the Gungeon (Nintendo Switch Package Edition) Bullet hell dungeon crawler published by Kakehashi Games for Nintendo Switch with Japanese localization, physical edition, and associated branded merchandise.
- BALL x PIT Survival roguelite combining block-breaking, ball fusion, and base-building on multiple platforms (Nintendo eShop ¥1,700, PlayStation Store ¥1,760, Steam ¥1,700). Developed by Kenny Sun (Brooklyn) and published by Devolver Digital.
- Serial World Roguelike dungeon-crawling deck-building RPG featuring fast-paced deck-based combat mixed with classic RPG elements and cute 'Anima' creatures. Developed by Japanese indie studio Serial Project (Takashi Maeda, Sho Kawasaki). Worldwide publishing by Kakehashi Games.
- Epoch Reset Narrative-driven 2.5D anime adventure with time-travel gameplay set in Hong Kong and Tokyo. Players travel between timelines to prevent temporal catastrophe, with challenges including card games, street karaoke, and cyber-hacking. Developed by Singapore-based solo developer Abner Tolentino (abnermtj). Worldwide publishing by Kakehashi Games.
- Moomintroll: Winter's Warmth (ムーミントロール：冬のぬくもり) Puzzle adventure game based on Tove Jansson's 'Moominvalley in Winter', where Moomintroll searches for new friends and warms his winter. Developed by Hyper Games (Norway). Download version released April 28, 2026; physical package version released July 30, 2026 with limited edition containing exclusive items (embroidered pins, eco bag, postcards, soundtrack CD, microfiber cloth).
- Scott Pilgrim EX Action adventure game in the Scott Pilgrim series featuring 7 playable characters, a new story by original author Bryan Lee O'Malley, and a soundtrack by Anamanaguchi. Supports 1-4 player local and online co-op chaos battles. Published in Japan under license from Universal Products & Experiences.
- Cairn Realistic survival climbing game in which players read rock faces to plan routes up unclimbed peaks while managing pitons, chalk, food, water, and medicine. Developed by The Game Bakers (France, creators of Furi and Haven). Available on PS5 and PC.
- Baladins 1-4 player role-playing adventure game inspired by tabletop RPGs in which players take on traveling entertainers bringing joy to people in the world of Gazelac. Features 5 unique character classes and short 1-hour sessions. Developed by Seed by Seed and published by Armor Games Studios.
- Demon Tides Open-world action platformer set in a seamless ocean world with dynamic move sets, talismans for ability modification, character customization, and multiplayer features (ghost time trials, graffiti sharing). Developed and published by Fabraz.
- ROUTINE First-person sci-fi horror game set in an abandoned lunar base, featuring immersive exploration, observation, and survival gameplay using the Cosmonaut Assistance Tool (C.A.T.). Developed by Lunar Software (UK) and published by Raw Fury.
- Opus Magnum: Complete Edition Puzzle/simulation game combining alchemy with machine design, complete edition includes the base game and the 'De Re Metallica' DLC. Developed by Zachtronics and published for Nintendo Switch in Japan (distributed via Alliance).
- Turnbound Inventory management PvP auto-battle game in which players escape a cursed board game via tile placement, synergy building, and asynchronous multiplayer. Developed by 1TK Games (8 veteran developers) and published by Gambit Digital.
- SONOKUNI Biopunk Japanese mythology-inspired 2D action game with a hip hop soundtrack. One-hit death mechanics with time-bending skills. Developed by DON YASA CREW (7-person Japanese hip hop group). Worldwide publishing by Kakehashi Games on PC and Nintendo Switch.
- Sagres Age of Discovery sailing adventure in which players explore the seven seas as captain Fernando, customize ships, battle pirates and sea monsters, and engage in turn-based combat and crew building. Developed by solo developer Ooze (South Korea, former AAA developer). Worldwide publishing by Kakehashi Games.
- Blasphemous 2: The Third Sin Free update to the action game Blasphemous 2 adding new areas, a whip weapon, 3 familiars, 6 new prayers, and 6 new statues. Developed by The Game Kitchen (Spain), published by Team17. Japanese publishing support by Kakehashi Games on Switch, PS5, and PC.
- Monsters are Coming! Rock & Road Action game featuring 'Rock & Road' theme; part of Combined Effect/Raw Fury portfolio. Japanese localization and publishing support by Kakehashi Games.
- Kakehashi Games Web Store (games & merchandise) Company-operated web store selling physical game editions and branded merchandise directly to consumers (Fall Guys t-shirts ¥3,300–¥4,070, pins ¥1,320, stickers ¥1,100, patch sets ¥2,200; Enter the Gungeon t-shirts ¥3,300–¥5,500, beanies ¥2,200; PHOGS! plush ¥2,310). Fulfilled through the company's web store.
Quantifiable outcome
- 300+ indie titles successfully published in Japan since 2013
- +1 more outcomes
Companies that use Kakehashi Games
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles3 records
Kakehashi Games technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Kakehashi Games partnerships and signals
Strategic signalPartnerships
23 partnerships are on record, tiered flagship, core and minor.
- Combined EffectflagshipKakehashi Games is part of the Combined Effect ecosystem, an umbrella organization of independent publishers and studios that also includes Raw Fury and Fury Studios. Combined Effect reported 43% revenue growth in 2025. CEO Pim Holfve was appointed dual CEO of both Raw Fury and Combined Effect in late 2024, overseeing the entire portfolio including Kakehashi Games.
- Bada GamescoreBada Games is a recurring Korean localization partner that works with Kakehashi Games on Korean language versions of published games. Mentioned in the work history for numerous titles including Forestrike, Possessor(s), Baby Steps, Neva, and 40+ other titles.
- Raw FurycoreRaw Fury is a Stockholm-based publisher. Kakehashi Games provides publishing support for Raw Fury titles in the Japanese market, including ROUTINE, Blue Prince, and Monsters Are Coming! Raw Fury is under the same Combined Effect parent company as Kakehashi Games.
- Lunar SoftwareminorDeveloper of ROUTINE, a first-person sci-fi horror game set on a lunar base. Kakehashi Games handled Japanese publishing support for this title.
- The Game BakerscoreFrench indie studio behind Cairn. Kakehashi Games handles Japanese publishing for their titles including Furi and Haven, with Cairn being their latest collaboration for PS5 and PC.
- Tribute GamesminorMontreal-based developer and publisher known for Teenage Mutant Ninja Turtles: Shredder's Revenge and Scott Pilgrim EX. Kakehashi Games provides Japanese publishing support for their games.
- Hyper GamescoreNorwegian studio that developed Moomintroll: Winter's Warmth. Kakehashi Games is co-publishing this title in Japan alongside the developer, including both digital and physical Switch releases.
- Moomin Characters Oy LtdcoreCopyright holder for all Moomin characters. Kakehashi Games publishes Moomintroll: Winter's Warmth under license from Moomin Characters, with releases planned for both physical and digital formats.
- DON YASA CREWcoreJapanese hip hop group and indie game developer. Kakehashi Games provides worldwide publishing for SONOKUNI, bringing this biopunk Japanese mythology-inspired action game to global markets.
- OozeminorSolo developer from South Korea. Kakehashi Games provides worldwide publishing for Sagres, the exploration adventure game set in the Age of Discovery.
- Serial ProjectcoreJapanese indie studio formed in 2023 by former Level-5 duo Takashi Maeda and Sho Kawasaki. Kakehashi Games provides worldwide publishing for their debut title Serial World, a deck-building roguelike RPG.
- Abner Tolentino (abnermtj)minorSingapore-based solo developer. Kakehashi Games provides worldwide publishing for Epoch Reset, his debut commercial game, an anime-inspired time-travel adventure.
- The Game KitchenminorSpanish indie studio behind the Blasphemous series. Kakehashi Games provides Japanese publishing support for Blasphemous 2: The Third Sin.
- Team17coreUK-based publisher with 35+ years of experience. Kakehashi Games works with Team17 on Japanese publishing for titles like Blasphemous 2 and LumenTale.
- ZachtronicsminorDeveloper known for programming puzzle games like SHENZHEN I/O and Opus Magnum. Kakehashi Games handles Japanese publishing for Opus Magnum: Complete Edition on Nintendo Switch.
- AllianceminorGame distribution company handling Nintendo eShop version of Opus Magnum: Complete Edition in Japan. Alliance has been in video game distribution since 1989.
- FabrazminorIndie studio behind Demon Turf and Slime-san. Kakehashi Games handles Japanese publishing for Demon Tides, their open-world action platformer.
- Seed by SeedminorFrench indie studio of 8 members. Kakehashi Games handles Japanese publishing for Baladins, their tabletop RPG-inspired adventure game.
- Armor Games StudiosminorPublisher behind Seed by Seed's Baladins. Kakehashi Games coordinates with Armor Games Studios for Japanese market distribution.
- Bandai Namco Studios SingaporecoreDeveloper of Hirogami (origami-themed platformer). Kakehashi Games provides worldwide publishing for this title, available on PC and PS5.
- Devolver DigitalcoreMajor indie game publisher known for titles like Enter the Gungeon, Cult of the Lamb, and Katana ZERO. Kakehashi Games handles Japanese publishing for Devolver titles and has collaborated on merchandise.
- 1TKminorUK indie studio of 8 veteran developers. Kakehashi Games handles Japanese publishing for Turnbound, their inventory management PvP auto-battler.
- Gambit DigitalminorPublisher for Turnbound alongside 1TK. Kakehashi Games coordinates with Gambit Digital for Japanese market release.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Kakehashi Games competitors and assessment
Company assessmentDirect peers
- Team17: UK-based publisher with 35+ years of experience, a recurring Kakehashi partner for Japanese publishing of titles like Blasphemous 2 and LumenTale. Comparable as a long-tenured multi-title indie publisher with both digital and physical distribution.
- NIS America: US subsidiary of Nippon Ichi Software specializing in Japanese-to-English localization and physical edition publishing. Comparable model of a Japan-rooted organization publishing games in Western markets with full localization, marketing, and physical retail.
- Raw Fury: Stockholm-based indie publisher and direct sister company under Combined Effect. Operates the same indie publishing model globally, making it the most structurally comparable peer for benchmarking unit economics, deal flow, and pipeline risk.
- Armor Games Studios: US-based indie publisher (publisher of Seed by Seed's Baladins, which Kakehashi co-published in Japan). Closely comparable boutique indie publisher operating a similar catalog and deal structure.
- PM Studios: US-based indie publisher with strong Japanese market and physical retail focus (including Asian game localization into English). Direct comparison point for physical-edition strategy and East-West publishing bridges.
- Devolver Digital: Major indie publisher of titles like Enter the Gungeon, Cult of the Lamb, and Katana ZERO — Kakehashi's own publishing partner for Japan. Direct peer in business model (premium indie publishing), with overlap in developer relationships and similar catalog aesthetic.
Emerging players
- Chucklefish: UK-based indie publisher known for Starbound and other titles. Closely comparable boutique indie publisher with similar catalog profile and developer-first relationships.
Regional players
- Playism: Japan-based indie game publisher and digital distributor focused on bringing Japanese indie games to global audiences. Highly comparable to Kakehashi's 2023-vintage worldwide publishing business (Asian-to-global), and operates in the same Japan indie ecosystem.
Broad incumbents
- Marvelous (XSEED Games): Japanese publisher (parent of XSEED Games) with established Japanese-to-English indie game publishing. Highly relevant for benchmarking how a Japanese parent organization can scale English-language publishing — a model Combined Effect is pursuing with Kakehashi.
- Annapurna Interactive: Established premium indie publisher with a strong track record in narrative and artistic games. Comparable catalog positioning and developer-led model, though larger and not focused on Japanese localization.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Kakehashi Games social profiles
Digital presenceKakehashi Games financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kakehashi Games leadership team
Management profileNumber of profiles
Profiles1 record
Kakehashi Games funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kakehashi Games M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kakehashi Games
What does Kakehashi Games do?
Kakehashi Games is a boutique indie game publisher that operates as a bridge between Eastern and Western gaming markets. Founded in Tokyo in 2013 and now headquartered in Sapporo, the company brings Western/indie titles into Japan and, since 2023, brings Asian indie titles out to global markets. Its core offering is end-to-end publishing services—Japanese/Korean/Chinese localization, CERO rating acquisition, marketing and promotional support, metadata editing, and physical/digital distribution—alongside direct sales of published game software and branded merchandise through its own web store and major storefronts.
Is Kakehashi Games a public or private company?
Kakehashi Games is a private company. It is classified as corporate owned and is currently operating.
When was Kakehashi Games founded?
Kakehashi Games was founded in 2013.
Where is Kakehashi Games based?
Kakehashi Games is headquartered in Tokyo, Japan, in the Asia region.
How does Kakehashi Games make money?
Two revenue lines are on record. Game Software Sales are the primary driver. The others are merchandise Sales.
Who are Kakehashi Games's main competitors?
Direct peers on record are Team17, NIS America, Raw Fury, Armor Games Studios, PM Studios and Devolver Digital. Chucklefish is listed as an emerging player. Playism is listed as a regional player. Broad incumbents are Marvelous (XSEED Games) and Annapurna Interactive.
Does Kakehashi Games have an API?
No public API is recorded for Kakehashi Games.
What industry is Kakehashi Games in?
Kakehashi Games's product category is Indie Game Publishing. Its primary akta.pro industry code is MPAFABAH, Regional/Local Market Publishers & Distributors (Territory Rights, Localization-led Publishing), with a secondary code of MPAFABAL, Publishing Services Providers (Ratings, Compliance, Certification, Release Ops). Its NAICS code is 45912 and its SIC code is 5945.