Bank of Innovation

What Bank of Innovation does

Bank of Innovation (株式会社バンク・オブ・イノベーション, TYO: 4393) is a Tokyo-headquartered, publicly listed Japanese mobile and PC game developer founded in 2006 by President Tomohiro Higuchi. After an initial pivot away from its 2007 video search engine business 'Fooooo,' the company entered smartphone gaming in 2012 and now operates a portfolio centered on its flagship idle RPG Memento Mori (launched October 2022) and the game-based dating application Koiniwa (launched April 2021 under wholly-owned subsidiary Koiniwa, Inc.). Two earlier flagship titles — Cryptract and Mitrasphere — were discontinued in April 2023 to concentrate resources. Memento Mori has accumulated 5 million downloads across iOS, Android, Windows, Steam, DMM, and a direct APK channel, with overseas markets (US, Korea, Taiwan, Hong Kong) contributing roughly a quarter of revenue per a 2022 Sensor Tower analysis, and the title is estimated to represent over 90% of consolidated revenue.

Name

Bank of Innovation

Legal name

株式会社バンク・オブ・イノベーション

Website

https://boi.jp

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

Bank of Innovation is a Tokyo-listed Japanese mobile and PC game developer whose flagship idle RPG Memento Mori (5M+ downloads since 2022) drives over 90% of revenue, with a secondary game × matching dating app called Koiniwa.

Ownership category

akta.pro rank

Product category

Mobile Gaming

NAICS

Software Publishers (5132)

akta.pro primary industry

Mobile & F2P Game Studios (MPAFAAAB)

akta.pro secondary industries

Mobile Game Publishing & App Game Stores (BPAMAKAB), Mobile Game Stores & Alternative App Stores (MPAFACAD)

Keywords

• Mobile game development
• Smartphone RPG games
• Free-to-play gaming
• Dating app development
• Digital entertainment software

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. In-app purchases (item monetization): Primary revenue stream for Memento Mori. Free-to-play model with item purchases, gacha, and premium currency (diamonds). Apk version offers 11% point back on purchases. Revenue from both one-time item purchases and consumables.
2. In-app item purchases and subscriptions (恋庭): Matching and messaging are free for both genders. Revenue generated from optional item purchases and subscription plans within the 恋庭 app. Basic service is free.
3. Patent licensing / IP (Game × Matching system): The patented 'Game × Matching × Avatar' system is licensed. Koiniwa subsidiary operates the 恋庭 service under this system.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels9 records

Core offering

Bank of Innovation develops and operates smartphone and PC games for global consumers, with its flagship title Memento Mori being a turn-based RPG featuring 50+ characters each with dedicated original songs (Lamento system) and professional voice acting. The company also operates the Koiniwa dating application through its wholly-owned subsidiary, combining garden-simulation gameplay with patented avatar-based matching technology (Patent No. 6714757). All products are free-to-play with revenue from in-app purchases and subscriptions.

Product overview

Bank of Innovationは、IPO済み（東証グロース、証券コード4393）のスマートフォン・PC向けゲーム開発・運営企業。主要タイトルは放置型RPG『メメントモリ』とゲーム恋活アプリ『恋庭』。他に幻獣契約クリプトラクト、ミトラスフィア、征戦！エクスカリバー、ポケットナイツなどを開発・運用していたが一部はサービス終了。2006年設立後、動画検索エンジンFoooooから始まり、2012年にスマホゲーム事業に参入、2021年に恋庭を開始、2022年にメメントモリをリリースして以来350万DL超の大ヒットを記録。

Differentiator

Problem solved

Functional benefit

Products and services

• Memento Mori (メメントモリ) Turn-based smartphone and PC RPG featuring 50+ witch characters, each with a dedicated original song (Lamento) performed by professional Japanese singers and full voice acting. Available on iOS, Android, Windows, Steam, and DMM GAMES, with cooperative guild battles and bi-weekly new character releases. Free-to-play with in-app purchases.
• Koiniwa (恋庭) Game-based dating application combining garden-simulation co-op gameplay with avatar-based matching. Users match via avatars and develop relationships through cooperative quests before meeting in person. Patented Game × Matching × Avatar system (Patent No. 6714757). Operated through wholly-owned subsidiary Koiniwa, Inc. Free basic matching and messaging with optional paid items and subscriptions.

Quantifiable outcome

• Memento Mori generated $23 million in revenue worldwide within 2 weeks of launch (October 2022)
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Suzuki Airi (鈴木愛理)minorGTM or Marketing Partner · 12 October 2025Singer Suzuki Airi performed a new song for Memento Mori and participated in a special collaboration mission event.
• Yamamoto Ai (山本彩) / Juice=JuiceminorGTM or Marketing Partner · 14 August 2025Yamamoto Ai (NMB48/Juice=Juice) performed at Memento Mori 1st Live concert event. Had previously written and performed songs for Memento Mori characters (ロザリー character). Live event appearance drives fan engagement.
• Amane Kanata (天音かなた) - VTuberminorGTM or Marketing Partner · 27 June 2025VTuber Amane Kanata collaboration event in Memento Mori. New character MV game-limited release. Collaborative goods giveaway. Campaign to leverage VTuber fanbase for user acquisition.
• TBS (Tokyo Broadcasting System)minorStrategic or Co-development Partner · 28 June 2022TBS's Tuesday drama ' unicorn ni nosete' (ユニコーンに乗って) featured 恋庭 app integration and app consultation. The drama's main character runs a mobile app company, and 恋庭 provided consultation for authentic depiction. Cross-promotional benefit for 恋庭's user acquisition.
• Suzuki Yuka (鈴木ゆうか)minorGTM or Marketing Partner · 29 December 2021Actress and model Suzuki Yuka appointed as ambassador for 恋庭 app. Starred in web CM campaigns ('ゲームで恋しよ' and 'ゲームをしてただけなのに'). Promoted the 'game love' (ゲーム恋活) concept. KOL fashion brand collaboration created in-app avatar items.
• 株式会社KoiniwacoreOthersWholly-owned subsidiary of Bank of Innovation operating the 恋庭 app. Established as 株式会社バンク・オブ・インキュbation (renamed to Koiniwa). Operates independently to develop and operate the 'game × matching' dating service.
• SegaminorOthersSega filed a patent lawsuit against Bank of Innovation (reported in legal review of gaming industry conflicts, July-December 2024). Legal dispute, not a commercial partnership.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Market position

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/boi_pr
• YouTubeyoutube.com/channel/UCQ_LN6ELte7ug9IeS1VP1bw
• Facebookfacebook.com/BOIinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors4 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 Bank of Innovation