What vaka does

Vaka, Inc. (株式会社バカー) is a Tokyo-based entertainment company that develops, publishes, and manages Japanese indie game intellectual property, with secondary operations in B2B creative production services. Founded in February 2018 as a joint venture between Dwango (the operator of NicoNico video) and Studio Color (led by Hideaki Anno) and subsequently taken private via management buyout in October 2019, the company owns and operates the Game Magazine (ゲームマガジン) media platform, which serves as its primary distribution, marketing, and creator-discovery channel. Vaka's core products are narrative-driven indie games — most prominently Satsuriku no Tenshi (Angels of the Slaughter), Higyaku no Noel (Noel's Suffering), Arne no Jiken (Arne's Case Files), and the Tsugunohi horror series — built using standard Japanese indie tooling including RPG Maker and WOLF RPG Editor, and distributed globally through Steam with recent expansion to Nintendo Switch and PlayStation 4 consoles.

The company's commercial model combines multi-format IP monetization with end-to-end trans-media development. Self-published and partner-developed games are distributed via Steam, Nintendo Switch, and PlayStation 4 as one-time-purchase licenses; the IP is then expanded through anime adaptations (Satsuriku no Tenshi aired July-September 2018; Arne no Jiken broadcast from January 2026 on NTV/BS NTV/AT-X), manga serialization with KADOKAWA and Shinshinsha (Satsuriku no Tenshi alone has exceeded 2.25 million copies in print, while Higyaku no Noel has surpassed 200,000), drama CD production with Toho Animation, LINE stamp and merchandise distribution, and real-world event production anchored at the annual Nico Nico Super Conference. A more recently established B2B service line offers enterprise clients official website production, social media account operations, video and streaming content, character merchandise and LINE stamp design, event production, and book/magazine publishing under a quote-based, project-based pricing model.

Vaka serves two primary customer bases: a long-tail consumer audience of Japanese indie game fans and anime/manga otaku who buy games on Steam and consoles, consume anime broadcasts, attend events, and engage in crowdfunding communities (2,475 backers funded the ¥45.2M Satsuriku anniversary exhibition at 1,130% of goal); and enterprise clients in entertainment, media, and IP-holding sectors seeking integrated creative production capabilities. Notable named partners across IP distribution, broadcasting, publishing, and financial services include Toho Animation, KADOKAWA, Nippon Television, Shinshinsha, Bandai Namco (for Pac-Man collaboration games), and Japanese Red Cross (for blood donation campaigns). The registered capital of ¥35,000,000 indicates a small-capitalization, founder-led operating profile rather than a venture-backed scale business.

Name

vaka

Legal name

株式会社バカー

Website

https://vaka.co.jp

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Vaka is a Tokyo-based entertainment IP management company that develops Japanese indie game franchises and expands them across games, anime, manga, novels, and merchandise, while offering creative production services to enterprise clients through its Game Magazine platform.

Ownership category

akta.pro rank

Product category

Indie Game Development & Transmedia IP Management

NAICS

Software Publishers (513210), Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) (533)

SIC

Games, Toys & Children's Vehicles (No Dolls & Bicycles) (3944), Books: Publishing Or Publishing & Printing (2731)

akta.pro primary industry

Full-Service Game Publishers (1st/2nd/3rd-Party Publishing) (MPAFABAA)

akta.pro secondary industries

Merchandising, Character & Brand Licensing (MPADALAF), Licensed & Franchise Comics Publishing (Film/TV/Game Tie-ins) (MPAJAGAH)

Keywords

• Indie game development
• Transmedia IP management
• Digital game publishing
• Creative production services
• Anime manga licensing

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Indie Game Development & Sales: Self-developed and published indie games via Steam, Nintendo Switch, PlayStation 4, with direct digital sales and console distribution.
2. IP Licensing & Media Mix: Licensing of owned and managed IPs for anime adaptation, manga/comic serialization, novel publication, drama CD production, merchandise, and fan events. Key licensed IP: 'Satsuriku no Tenshi' anime, manga, novel, LINE stamps, VTuber, and real-world experiences.
3. B2B Creative & Production Services: Enterprise-facing services providing official website production, SNS management, video/streaming content, character goods, event production, book/magazine publishing to corporate clients. End-to-end from strategy to creative production to operations.
4. Game Magazine Platform: Game Magazine (ゲームマガジン) web platform publishing and promoting indie games, serving as the company's owned media channel and creator discovery ecosystem.

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Vaka develops and publishes Japanese indie games through its Game Magazine (ゲームマガジン) web platform and licenses those IPs for transmedia expansion into anime, manga, novels, drama CDs, merchandise, and live events. Beyond its own consumer game titles (such as Satsuriku no Tenshi, Higyaku no Noel, Arne no Jiken, and the Tsugunohi series), Vaka also sells B2B creative production services (official website production, SNS management, video/streaming content, character goods, event production, and book/magazine publishing) to entertainment and media companies.

Product overview

Vaka is an indie game developer and entertainment IP management company that operates primarily through its Game Magazine platform. The company develops and manages original game IPs (notably Angels of the Slaughter, Noel's Suffering, Arne's Case Files, and Tsugunohi series) while offering B2B creative services including official website production, SNS operations, video/streaming content creation, character goods design, event production, and book/magazine publishing. The product portfolio combines self-published game media with enterprise creative services, supporting cross-media IP expansion from games to anime, novels, manga, and merchandise.

Differentiator

Problem solved

Functional benefit

Products and services

• Game Magazine (ゲームマガジン) Owned indie game media platform at gamemaga.jp that hosts serialized indie games such as Satsuriku no Tenshi, Higyaku no Noel, Arne no Jiken, and Tsugunohi, and serves as a creator discovery and editorial channel. Targeted at Japanese indie game fans and creator community.
• Satsuriku no Tenshi (殺戮の天使, Angels of the Slaughter) Psycho-horror adventure game published on the Game Magazine platform, subsequently expanded into a full transmedia franchise with anime (aired July–September 2018), manga (circulation exceeding 2.25 million copies by November 2019), novels, drama CDs, merchandise, and live events. Targeted at fans of horror and narrative-driven Japanese indie games.
• Higyaku no Noel (被虐のノエル, Noel's Suffering) Ongoing dark fantasy adventure game series published on the Game Magazine platform, with seasonal episodes, novelizations, drama CD adaptations, and merchandise. Manga circulation exceeded 200,000 copies. Targeted at fans of ongoing serialized dark fantasy indie content.
• Arne no Jiken (アルネの事件簿, Arne's Case Files) Mystery detective game series featuring gothic-fantasy vampire detective Arne, with manga serialization, novelization by Shinshinsha, and a TV anime adaptation airing from January 2026. Targeted at fans of mystery and gothic narrative-driven games.
• Tsugunohi (つぐのひ) Series Multi-entry horror game series by creator ImCyan featuring progressive daily-life-to-horror scenarios, available on Steam, with console ports (Nintendo Switch, PlayStation 4) of selected entries. Supported languages: Japanese, English, Simplified Chinese, and Traditional Chinese. Targeted at horror game fans.
• DRAPLINE Rogue-lite game featuring a hungry dragon girl character, developed by creator Kanawho and published on Steam in early access. Targeted at rogue-lite and action game fans on the Steam platform.
• B2B Official Web Production Services B2B service offering official website design and development for entertainment and business clients, including animation, illustrations, quizzes, manga, and puzzle content. Targeted at entertainment, media, and IP-holding companies needing digital presence production.
• B2B Official SNS Operations Services B2B service for social media account management and content creation, including copywriting, image and video production, posting operations, and LINE account operation. Targeted at entertainment and media companies seeking ongoing social channel management.
• B2B Video and Streaming Production Services B2B video content production service ranging from low-budget social media videos to high-end productions, including TV program planning and VTuber operation. Targeted at entertainment and media companies and IP holders.
• B2B Character Goods and LINE Stamp Production Services B2B design and production service for character merchandise and LINE stamps, including planning, manufacturing, and distribution. Has produced long-running hit LINE stamps. Targeted at IP holders and entertainment companies.
• B2B Event Production Services B2B large-scale event planning and production service including horror houses, casino events, talk shows, real games, and stamp rallies. Targeted at entertainment, media, and corporate clients.
• B2B Book and Magazine Publishing Services B2B editorial and publishing service for fiction and non-fiction books, novels, manga, magazines, and drama CDs, including DTP and print coordination. Targeted at publishers, IP holders, and entertainment companies.
• B2B IP Expansion and Media Mix Services B2B comprehensive IP development service including novelization, manga adaptation, anime production coordination, drama CD production, merchandise licensing, and fan book creation. Targeted at IP holders seeking multi-format transmedia expansion.

Quantifiable outcome

• Satsuriku no Tenshi manga: 225万部+ circulation; Higyaku no Noel manga: 20万部+; Higyaku no Noel novel: 5万部+
• +5 more outcomes

Named customers6 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

Partnerships

Seven partnerships are on record, tiered core, major and minor.

• Nippon TV (日本テレビ)coreChannel Partner/ Reseller/ Distributor · 6 January 2026Primary TV broadcast partner for 'TV Anime アルネの事件簿' airing weekly on Tuesday late-night slot (25:29) from January 6, 2026. Also broadcast on BS Niptel and AT-X.
• Shinshinsha (新潮社)majorChannel Partner/ Reseller/ Distributor · 23 December 2025Major Japanese publisher publishing 'アルネの事件簿 Strange life' novelization under the Shinshinsha Bunko NEX label, released December 23, 2025. This is a new major publishing partnership for the Arne Case Files IP.
• Japanese Red Cross (日本赤十字社)minorGTM or Marketing Partner · 1 May 2019Collaborative blood donation campaign partner. First collaboration was at Nico Nico Super Conference 2019 where the campaign achieved record-breaking results with 244 donors on the second day alone. Second campaign launched December 2025 at Akihabara and Tokyo blood donation centers.
• Toho Animation (東宝)coreStrategic or Co-development PartnerToho Animation produced and distributed anime adaptations including '殺戮の天使' (aired July–September 2018, broadcast internationally) and '被虐のノエル' drama CDs. Vaka co-developed and supervised production alongside Toho.
• KADOKAWA (角川書店)majorChannel Partner/ Reseller/ DistributorMajor Japanese publishing conglomerate distributing manga, novels, and light novels for Vaka's IP titles. Published the '殺戮の天使' light novel series (3 volumes) through Amazon Kindle.
• Bandai Namco (バンダイナムコ)minorStrategic or Co-development PartnerBandai Namco collaborated with Vaka on a Tsugunohi game featuring Pac-Man characters, exhibited at the 2015 Nico Nico Super Conference Bandai Namco booth. Demonstrates cross-brand collaboration capability.
• Various Creators (外部クリエイター)coreStrategic or Co-development PartnerVaka maintains close creator partnerships with indie game developers including Sanada Makoto (真田まこと, Satsuriku no Tenshi), Kanawho (カナヲ, Higyaku no Noel, DRAPLINE), HaruShi (春紫, Arne Case Files), and ImCyan (アイムシアン, Tsugunohi). These creator relationships are the foundation of Vaka's IP development model, with Vaka providing editorial, production, and expansion support while creators retain creative direction.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• KEMCO: Japanese indie RPG publisher with broad portfolio of self-developed and licensed games on Steam and mobile. Comparable as a Japanese indie game publisher distributing RPG Maker-style games via digital storefronts.
• Level-5: Japanese game developer with strong track record of building game IPs into anime franchises (Inazuma Eleven, Yo-kai Watch). Comparable as a Japanese game studio pursuing full trans-media expansion of original IP.
• Idea Factory / Compile Heart: Japanese game developer and publisher focused on otaku-oriented titles with anime-style art and character-driven narratives. Comparable as a mid-sized Japanese publisher serving similar niche gaming communities.
• MAGES. (formerly 5pb.): Japanese game developer and publisher known for visual novels and adventure games with strong anime, manga, and media mix expansion. Directly comparable as a mid-sized Japanese company developing narrative-driven games and trans-media IP.
• Akatsuki: Japanese mobile game developer and publisher with IP development capabilities. Comparable as a Japanese entertainment company operating across game publishing and IP licensing.

Broad incumbents

• KADOKAWA: Major Japanese entertainment conglomerate spanning publishing, anime, and games. Comparable as a partner and competitor in manga/novel publishing and anime production, with much larger scale across all trans-media channels Vaka operates in.
• Aniplex: Japanese anime production and distribution subsidiary of Sony Music. Comparable as an anime production/distribution partner for horror and mystery titles, with greater scale and relationships with global streaming platforms.
• Bandai Namco Entertainment: Major Japanese game publisher with strong IP portfolio and trans-media capabilities. Comparable as a strategic partner (Tsugunohi/Pac-Man collaboration) and as a large-scale competitor in Japanese game publishing and IP licensing.

Others

• Dwango: Operator of NicoNico video platform and Vaka's other co-founder. Connected through joint venture origin and ongoing platform relationship for indie game community and event promotion.
• Studio Color: Hideaki Anno's creative studio and Vaka's co-founder. Connected through shared origin and ongoing relationship, providing a relevant comparison point for Japanese creative studios pursuing trans-media IP.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/vaka-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 vaka