X PLUS

What X PLUS does

X PLUS (株式会社エクスプラス) is a privately held Japanese trading and manufacturing conglomerate founded in 1986, headquartered in Osaka with Tokyo offices and operations across seven countries (Japan, China, Hong Kong, India, Philippines, Korea, and the United States). The company operates three integrated business segments: Entertainment (licensed collectible figures for Ultraman, Godzilla, and other premium IP under the Shonen RIC brand, plus the proprietary Space Cyclop character extended into NFTs and games), Brand (consumer sub-brands Köta, WILDTECH, minimo style, PUCOPUCO), and OEM/ODM Lifestyle (global sourcing and manufacturing of fashion accessories, belts at 3M+ units annually, bags, stoles, and eco-friendly textile products). The integrated trading-company model covers the full value chain from planning and design through manufacturing, import/export, and sales, supported by 267 employees across nine subsidiaries and a multinational workforce representing seven nationalities. The company holds GOTS, GRS, and OCS sustainability certifications and operates cross-border e-commerce through Shonen RIC direct shop, ZOZOTOWN, and Tmall Global. Technology stack includes 3D printing for hardware prototyping, Shima Seiki APEX3 for digital textile design and 3D wear simulation, and Robotic Process Automation for internal workflows. Underlying AI/ML capability is not disclosed beyond an internal data science training program; the technology profile is digitalization-focused rather than AI-native.

The company generates revenue through three distinct mechanisms: (1) hardware sales of licensed and proprietary toys/figures plus consumer lifestyle goods, (2) one-time licensing and royalties from game publishing (Smelter, Super Sami Roll, Bat Boy on PC, Nintendo Switch, PlayStation, Xbox), and (3) professional OEM/ODM services with quote-based enterprise pricing across global B2B clients. Distribution combines proprietary e-commerce, third-party marketplaces (ZOZOTOWN, Tmall Global, Amazon), domestic retail (home centers, drugstores, sports shops), direct B2B sales, and event-driven demand generation through trade shows including Heimtextil Frankfurt. Notable enterprise customers include Toho, Tsuburaya Productions, KADOKAWA, ZOZOTOWN, and the Japanese Defense Ministry (mask procurement). Recent strategic activity includes the acquisition of andFika (January 2026), executive leadership restructuring (April 2025), and continued geographic expansion into Korea and North America.

Name

X PLUS

Legal name

株式会社エクスプラス

Website

https://xplus.co.jp

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

51–100 employees

Short description

X PLUS is a Japanese trading and manufacturing conglomerate operating since 1986 across Entertainment (licensed figures, games), Brand (consumer lifestyle sub-brands), and OEM/ODM lifestyle manufacturing, serving B2B clients, collectors, and consumers globally via subsidiaries in seven countries.

Ownership category

akta.pro rank

Product category

Trading & Lifestyle Manufacturing

NAICS

Doll, Toy, and Game Manufacturing (33993), Hobby, Toy, and Game Retailers (45912), Apparel Accessories and Other Apparel Manufacturing (3159)

SIC

Retail-Hobby, Toy & Game Shops (5945), Games, Toys & Children's Vehicles (No Dolls & Bicycles) (3944), Retail-Apparel & Accessory Stores (5600)

akta.pro primary industry

Toy & Game E-commerce Specialists (CRALAFAL)

akta.pro secondary industries

Digital Game Marketplaces & Item Economies (NFT/Skins/Trading) (BPAMAKAJ), Digital/Interactive Toys & Accessories Distribution (CRAOAMAJ)

Keywords

• Trading company services
• Collectible figure manufacturing
• OEM lifestyle products
• Licensed character merchandise
• Fashion accessory manufacturing

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Lifestyle Goods (OEM/ODM & Brand): Designs, manufactures, and sells lifestyle products including fashion accessories, bags, belts, and eco-friendly fabric items. Revenue comes from both proprietary brands (Köta, WILDTECH, minimo style, PUCOPUCO) and OEM/ODM contract manufacturing for third-party brands. Products include stoles, scarves, jute bags, eco bags, belts (300万pcs+ annually), and face care/lifestyle accessories.
2. Toys, Figures & Collectibles (Entertainment): Licensed collectible figures (Ultraman, Godzilla, Gamera), plastic model kits, and original character products (Space Cyclop) sold via the Shonen RIC online shop, Amazon, and physical retail. Also includes NFT digital trading cards.
3. Game Development & Publishing: Develops, publishes, and ports games including Smelter, Super Sami Roll, and Bat Boy on platforms such as PlayStation, Nintendo Switch, Xbox, and Steam. Revenue from game sales and publishing royalties.
4. Trading & Import/Export Services: As a trading company, provides comprehensive planning, manufacturing coordination, import/export, and sales services across lifestyle product categories. Leverages global sourcing network spanning India, China, Philippines, Vietnam, and Japan.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels11 records

Core offering

X PLUS is a Japanese trading company operating three integrated business segments: Entertainment (licensed collectible figures and plastic model kits for franchises like Godzilla, Ultraman, and Dragon Ball; original Space Cyclop character with NFT trading cards; game development and publishing), Brand (consumer lifestyle brands Köta, WILDTECH, minimo style, and PUCOPUCO), and OEM/ODM (global sourcing and contract manufacturing of lifestyle and fashion products including belts, bags, stoles, scarves, gloves, and eco-friendly items). The company provides integrated services spanning planning, design, manufacturing coordination, import/export, and sales across production bases in India, China, Philippines, Vietnam, and Japan.

Product overview

X PLUS operates three integrated business divisions: Entertainment (toy & figure business handling licensed collectible figures, plastic model kits, original Space Cyclop character products including NFTs, and game development/publishing), Lifestyle OEM/ODM (global sourcing and manufacturing of lifestyle/fashion products including belts, bags, stoles, scarves, and eco-friendly items with production bases across India, Philippines, China, Vietnam, and Japan), and Branded Products (multiple sub-brands: Köta for Scandinavian-inspired lifestyle goods, WILDTECH for outdoor gear, minimo style for minimalistic beauty/lifestyle products, and PUCO PUCO for India-made lifestyle goods). The company leverages digital technologies including 3D printing, Shima Seiki APEX3 design systems, and RPA for operational efficiency. Cross-border e-commerce includes Shonen RIC official shop, Köta on ZOZOTOWN, and TOKYO BEAUTY COLLECTIVE on Tmall Global.

Differentiator

Problem solved

Functional benefit

Brands

• Shonen RIC: Toy and figure brand handling licensed and original characters including Godzilla, Ultraman, Dragon Ball, and original Space Cyclop.
• Köta
• WILDTECH
• minimo style
• PUCOPUCO

Products and services

• X PLUS OEM/ODM Lifestyle & Fashion Global sourcing and contract manufacturing services for lifestyle and fashion accessories including belts (3M+ annual capacity), bags, stoles, scarves, gloves, arm covers, jute bags, eco bags, and fabric items. Offers design, prototyping (3D printing), digital sampling (APEX3), production, quality control, and export services to fashion brands worldwide.
• X PLUS Entertainment (Toy & Figure Business)

Quantifiable outcome

• 300万pcs+ annual belt production with stable quality and delivery
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature7 records

Partnerships

15 partnerships are on record, tiered minor and core.

• MUSINSA STUDIOminorChannel Partner/ Reseller/ Distributor · 1 July 2024Korean fashion platform's studio space housing X PLUS Korea Office. Located in Hyundai City Tower, Seoul.
• A Better MistakeminorStrategic or Co-development Partner · 24 November 2023Barcelona-based high-end fashion brand collaborated with X PLUS's original Space Cyclop character to create t-shirt and crewneck products, released November 24, 2023. Made in Portugal.
• A FASHION HONGKONG LTD.coreStrategic or Co-development Partner · 27 February 2023Hong Kong-based bag manufacturing company in which X PLUS invested in January 2020. Part of X PLUS's bag production and global sourcing network. Capital: 1 million HKD. Jointly strengthens bag production and overseas sales capabilities.
• A&P GLOBAL BAG MANUFACTURING INC.coreStrategic or Co-development Partner · 27 February 2023Philippines-based bag factory (joint venture) in which X PLUS invested in January 2020. Capital: 10 million PHP. Holds GRS certification (August 2021) and GOTS manufacturing authorization (May 2021). Production capacity for eco-friendly and certified bag products.
• DAHUI INDUSTRY CO., LTD.minorStrategic or Co-development Partner · 27 February 2023Bag factory in Myanmar established via STARWAY HOLDINGS investment (April 2019), expanding production capacity targeting Western markets.
• Various UniversitiesminorStrategic or Co-development Partner · 1 September 2022Industry-academia collaboration started September 2022, working with students to develop product ideas using design thinking. Also collaborates with Shiga University on data science projects.
• Saga City (佐賀市)minorStrategic or Co-development Partner · 13 July 2022Saga City signed a business establishment agreement with X PLUS Group company FLAME Ltd. (株式会社フレイム) to establish a 3DCG production base ('Saga Studio') in Saga City, contributing to regional economic activation and local talent recruitment.
• The YeteeminorStrategic or Co-development Partner · 26 April 2022Kickstarter partner for Bat Boy game merchandise (t-shirts, acrylic stands, figurines) — designed and manufactured by The Yetee for the Kickstarter campaign.
• Sonzai GamescoreStrategic or Co-development Partner · 21 April 2022Game development partner collaborating on joint titles including Bat Boy and Super Sami Roll. X PLUS Games and Sonzai Games co-developed Bat Boy (2022), with Sonzai Games contributing platformer expertise and X PLUS contributing publishing and game development capabilities.
• FUKU-san (Camping YouTuber)minorChannel Partner/ Reseller/ Distributor · 26 November 2021Camping YouTuber with 265,000 followers collaborated on WILDTECH brand's first collaborative product — outdoor gear Pouch and Gear Case. Online pre-orders started November 26, 2021.
• FLAME Ltd. (株式会社フレイム)coreStrategic or Co-development Partner · 27 October 20213DCG video production, software development, and asset creation company. Became 100% subsidiary of X PLUS on October 27, 2021. Strengthens X PLUS Group's 3DCG production and software development capabilities. Also established Saga Studio in 2022.
• NEUN FARBEN CORPORATIONcoreStrategic or Co-development Partner · 27 October 2021Subsidiary of FLAME Ltd., based in Manila, Philippines. Capital: 4.5 million PHP. 3DCG production capabilities supporting X PLUS Group's digital content development.
• High Line (株式会社ハイラインズ)minorChannel Partner/ Reseller/ Distributor · 1 October 2021Partnered with High Line to open Tokyo Beauty Collective on Tmall Global, a curated shop for Japanese beauty products targeting Chinese consumers.
• DANGEN EntertainmentcoreChannel Partner/ Reseller/ Distributor · 22 April 2021X PLUS developed and DANGEN Entertainment published the original game 'Smelter', released April 22, 2021 on PC, Nintendo Switch, PlayStation 4/5, and Xbox One. DANGEN handles publishing outside Japan.
• PUNX Co., Ltd. (株式会社パンクス)coreStrategic or Co-development Partner · 1 November 2019Became a full subsidiary in November 2019, expanding X PLUS's character product business.

Scale indicators6 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Good Smile Company: Japan-based figure maker specializing in licensed anime/game characters and original IPs (Nendoroid, figma). Closely comparable to X PLUS's Shonen RIC and Space Cyclop figure business, including multi-format character monetization.
• Bandai Namco Holdings: Major Japanese toy and entertainment conglomerate producing licensed character figures, plastic model kits, and games (Gundam, Ultraman). Directly comparable to X PLUS's licensed tokusatsu figure line and game publishing segment.
• Kotobukiya: Japanese figure manufacturer with both licensed anime/tokusatsu products and original ARTFX character lines. Comparable to X PLUS's combined licensed-and-original IP approach in the collectibles segment.
• Funko: U.S.-based pop culture collectibles maker (Funko Pop!) licensing major entertainment IP across multiple formats. Comparable to X PLUS's Shonen RIC in licensed character figures and cross-format character goods monetization.
• Takara Tomy: Major Japanese toy manufacturer with licensed character products and original toy IP. Comparable to X PLUS's licensed toy/figure portfolio and global distribution model.
• Sanrio: Japanese character goods company (Hello Kitty) monetizing a proprietary IP across toys, apparel, lifestyle products, and digital. Highly comparable to X PLUS's Space Cyclop multi-format IP strategy.
• MEDICOM TOY: Japanese figure maker (BE@RBRICK, Kubrick) specializing in collectible designer toys with licensed and original characters. Comparable to X PLUS in the high-end collectible figure niche.
• Square Enix: Japanese game publisher and IP licensor operating across PlayStation, Nintendo Switch, Xbox and Steam, plus character merchandise. Comparable to X PLUS Games' publishing and porting business and IP-driven product expansion.
• Kaiyodo: Japanese figure manufacturer known for high-detail licensed and original collectibles, often partnering with global brands. Comparable to X PLUS's licensed and original character figure lineup.

Broad incumbents

• Itochu Corporation: Major Japanese general trading company (sogo shosha) operating across textiles, consumer goods, and global sourcing networks. Comparable to X PLUS's OEM/ODM lifestyle business and trading-company value-chain model, though at vastly larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/xplusgames
• YouTubeyoutube.com/@xplustoystv
• Facebookfacebook.com/xpluscojp
• Instagraminstagram.com/xplus_official

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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 X PLUS