What Gugenka does

Gugenka is a Japanese XR creative studio founded in 2005 (originally as CS Reporters), headquartered in Niigata City with a Tokyo regional office and a Manila production studio operated through subsidiary CS-REPO LABO INC. The company builds digital figure platforms, avatar creation tools, 3D spatial video experiences, and AI voice services using 3DCG character modeling and Unity-based XR development. Its proprietary product portfolio includes HoloModels (a digital figure viewer with the world's largest official Japanese anime lineup, 500+ characters across 100+ titles), MakeAvatar (Japan's first VRChat-integrated avatar creation smartphone app), Spatial Disk (a 3D spatial video archive platform for VR/MR/AR devices), Oshaberri (an AI text-to-speech service using Style-Bert-VITS2 with voice actor data), XMarket, and HoloModeLink (a compact display device).

The company serves three primary customer segments. Enterprise clients — primarily Japanese anime and entertainment IP holders such as Sanrio, Toei Animation, Crypton Future Media, and KAMITSUBAKI STUDIO — contract Gugenka for custom 3DCG modeling, VR/AR/MR content, and metaverse event production (Virtual Sanrio Puroland, SANRIO Virtual Festival, Precure Virtual World, SNOW MIKU). Corporate marketing departments including SMBC Nikko Securities and Hokkaido Television Broadcasting deploy Oshaberri AI voice and avatar systems for branded communications. Individual consumers, including anime fans and VRChat users, purchase digital figures (¥550-¥5,500), avatar costumes, and spatial video content through the XR Marketplace, iOS, Android, Meta Quest, XREAL, and GateBox storefronts. Revenue is generated via one-time digital content licenses, freemium avatar app monetization, ¥120,000/year AI voice subscriptions, and quote-based B2B production services (¥150,000-¥2,825,000+ per project).

Distribution combines product-led consumer channels (app stores, XR Marketplace, physical retail at Yodobashi Camera and animate) with direct enterprise sales and an official VRChat partnership that enables paid event management, ticketing, and advertising services. Marketing is driven primarily through PR Times news releases, social media (X, YouTube), and flagship event showcases across Japan, Korea, the US, Taiwan, and the Philippines. Leadership is held by CEO Masashi Mikami and CTO/Overseas Director Kiral Poon, with an 81-person team (December 2024) spanning 3DCG, design, engineering, and production disciplines. The company has received industry recognition including a 2020 selection at the Brussels Fantastic International Film Festival and a 2025 TOKYO DIGICONX Business Pitch recognition.

Name

Gugenka

Legal name

株式会社 Gugenka

Website

https://gugenka.jp

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Gugenka is a Japanese XR creative studio that builds digital figure platforms (HoloModels), VRChat-integrated avatar tools (MakeAvatar), 3D spatial video (Spatial Disk), and AI voice services (Oshaberri), serving anime IP holders, enterprise marketing clients, and individual consumers across Japan, Korea, the US, Taiwan, and the Philippines.

Ownership category

akta.pro rank

Product category

XR Software and 3DCG Content Creation

NAICS

Software Publishers (5132), Hobby, Toy, and Game Retailers (45912), Custom Computer Programming Services (541511)

SIC

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

akta.pro primary industry

XR/AR/VR/MR Development Frameworks & Toolchains (MPAFAFAF)

akta.pro secondary industries

Immersive/Interactive Animation (AR/VR/Real-Time) (MPAHACAN), VR/AR Game Publishing & Distribution (MPAFABAK), VR/AR/XR Game Studios (MPAFAAAE), VR/AR Gaming Hardware (Headsets & Controllers) (HDACANAD)

Keywords

• XR content development
• 3DCG character modeling
• Digital figure platform
• VR avatar creation
• AI voice synthesis

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Digital Figure Sales (HoloModels): Sale of digital 3DCG character figures through XR Marketplace. Consumers purchase digital collectibles that can be viewed in AR/VR.
2. Avatar Creation App (MakeAvatar): Smartphone app for avatar creation with in-app purchases for costumes and items. Direct VRChat integration for avatar upload.
3. Spatial Disk Content: One-time purchase of 3D spatial video content (past live performances) playable on VR/MR headsets and smartphones. Like owning a Blu-ray.
4. AI Voice Service (Oshaberri): Annual subscription for voice generation using trained character voices. Original voice creation with voice actor recording available.
5. B2B XR/3DCG Production Services: Custom 3DCG character modeling, VR/AR/MR content development, VRChat world creation, and immersive event production for corporate clients.
6. VRChat Corporate Contract Agency: Official VRChat partner providing corporate contract agency services including paid events, advertising, and special features for enterprise clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Gugenka is an XR creative studio that develops and sells XR (AR/VR/MR) software applications, 3DCG character models, digital figures, avatar creation tools, 3D spatial video experiences, and AI voice synthesis services, alongside custom B2B 3DCG production and VRChat corporate contracting. Its consumer apps (HoloModels, MakeAvatar, Spatial Disk, Oshaberri) are distributed through app stores and the XR Marketplace, while enterprise clients contract custom XR/3DCG development and metaverse event production.

Differentiator

Problem solved

Functional benefit

Brands

• HoloModels: Digital figure viewer app for AR/VR - world's largest lineup of official Japanese anime digital figures
• MakeAvatar
• XMarket
• Spatial Disk
• HoloModeLink
• Sensecape
• おしゃべんり (Oshaberi)

Products and services

• HoloModels Digital figure viewer app enabling AR/VR viewing of 3DCG character figures on smartphones, VR devices, and smart glasses; features the world's largest lineup of official Japanese anime digital figures (500+ characters, 100+ titles). Targeted at anime fans and individual consumers for digital collectible display.
• MakeAvatar Smartphone app for creating VRChat-compatible 3DCG avatars with original and collaboration costumes from popular anime; offers direct VRChat avatar upload. Targeted at individual VRChat users, VTuber enthusiasts, and consumers seeking avatar customization with in-app purchases for costumes.
• Spatial Disk 3D spatial video platform for VR/MR/AR devices enabling purchase and playback of past live performances such as concerts and events. Supports Meta Quest, XREAL AR glasses, and smartphones. Targeted at fans wanting immersive re-experiencing of live entertainment content.
• Oshaberri (おしゃべり) AI Voice Service AI text-to-speech service using the Style-Bert-VITS2 engine, assigning voice actor recordings to create unique character voices for use in VTubers, mascots, chatbots, and character communications. Sold as annual subscription (¥120,000/year).
• HoloModeLink Compact display device for viewing HoloModels digital figures as a hardware companion product. Targeted at consumers who want a dedicated display for their digital figure collection.
• XMarket Official IP digital content store for XR (AR/VR) goods, distributing HoloModels digital figures, MakeAvatar costumes, and Spatial Disk content. Operated as Gugenka's own storefront at xr-marketplace.com.
• B2B XR/3DCG Production Services Custom 3DCG character modeling, VR/AR/MR content development, VRChat world creation, and immersive event production services for corporate clients. Quote-based pricing (character design ¥150,000-200,000; full modeling up to ¥2,825,000). Targeted at enterprises seeking XR/3DCG production capabilities.
• VRChat Corporate Contract Agency Official VRChat partner service providing corporate contract agency including paid events management, ticket sales systems, special advertising features, and avatar upload facilitation. Enables capabilities unavailable to non-partners. Targeted at enterprises entering the VRChat/metaverse space.
• Sensecape Immersive museum exhibition service combining digital/XR technology with physical spaces. Targeted at museums, exhibitions, and cultural venues seeking digital enhancements.

Quantifiable outcome

• 500+ official anime character figures available across HoloModels platform
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability9 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• VRChatcoreStrategic or Co-development PartnerGugenka is an official VRChat partner, providing corporate contract agency services, paid event management, ticket sales systems, special advertising features, and avatar upload facilitation. This partnership enables capabilities unavailable to non-partners.
• HTC NIPPON CorporationcoreStrategic or Co-development PartnerJoint development of VIVE Wonderland, the HTC VIVE official virtual reality park. Partnership for creating VR experiences and events in the HTC VIVE ecosystem.
• Sanrio Company, Ltd.coreStrategic or Co-development PartnerMajor IP partnership for Sanrio Virtual Festival, Virtual Sanrio Puroland, and various Sanrio character digital figure productions. Multiple ongoing projects including digital pet Tabechane and MR experiences.
• Voice Actor Agencies (声優事務所)coreStrategic or Co-development PartnerVoice actor agencies collaborate with Gugenka for Oshaberri AI voice service, providing voice data recording and licensing for character voice creation.

Scale indicators5 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• balus Inc. Japanese metaverse solutions studio providing custom VR/AR development, virtual world production, and enterprise metaverse consulting. Overlaps with Gugenka's B2B XR/3DCG production and Sensecape immersive exhibition services.
• HIKKY: Tokyo-based XR creative studio operating the Virtual Market (Vket) metaverse events platform and producing branded VR worlds for Japanese IP holders. Directly comparable to Gugenka as a Japanese XR studio monetizing anime/IP holders through VRChat-adjacent virtual events and 3DCG production.
• Cluster, Inc. Operator of the cluster.mu metaverse platform in Japan, which hosts virtual events, avatar-based meetings, and creator-built worlds. Competes with Gugenka for both enterprise XR event spend and consumer avatar/social VR engagement in the Japanese market.
• monoAI technology: Japanese XR/VRChat world production studio specializing in custom virtual worlds and metaverse environments for enterprise and entertainment clients. Overlaps with Gugenka's B2B 3DCG and VRChat corporate contract services.
• Psychic VR Lab (XRI): Japanese XR production and event company operating the XRI portal for VR events including Vket participation. Competes for the same enterprise VR event production and Japanese IP holder engagements as Gugenka.
• pixiv (VRoid): Japan-based illustration and creator platform whose VRoid project provides VRM-standard avatar creation tools, directly comparable to Gugenka's MakeAvatar (VRChat-compatible avatar creation). Both target hobbyist and VTuber avatar creators with VRM-export tools.

Broad incumbents

• Polygon Pictures: Established Japanese 3DCG animation and VFX studio with credits including CG feature films and game cinematics. Comparable 3DCG production capability to Gugenka's Niigata/Manila studios, but at substantially larger scale and oriented toward long-form film/TV.
• Cover Corp (Hololive Production): Japanese VTuber agency operating Hololive, with a substantial in-house 3DCG character production, virtual event (live concert) capability, and global fan engagement infrastructure. A larger incumbent that competes for anime/VTuber IP monetization but operates as an IP-holder/agency rather than a service studio.
• Sanzigen: Japanese 3DCG animation studio and animation software developer (3DCG animation tools). Comparable in real-time 3DCG animation expertise applied to anime content; broader and more established but a potential supplier or competitor in the same production talent pool as Gugenka.
• ANYCOLOR Inc. (Nijisanji): Japanese VTuber/entertainment company running the Nijisanji network and NIJISANJI EN, with associated live event and digital merchandise operations. Publicly listed and broader in scope, but adjacent in the Japanese anime/virtual entertainment ecosystem that Gugenka services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Gugenka_info
• YouTubeyoutube.com/channel/UC2ss43YRCgUDq9zR66UH23w
• Facebookfacebook.com/gugenkamanila

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 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 Gugenka