Co-Studio

What Co-Studio does

Co-Studio is a Tokyo-based professional services firm founded in December 2019 by Masataka Sawada (formerly of Yahoo! JAPAN, SOMPO, and OMRON) that co-creates new businesses with large Japanese corporations. The company operates as an 'Open Studio for Innovation,' explicitly positioning itself as neither traditional consultancy nor investor but as an equity-participating co-founder that takes risk alongside enterprise clients. Its core methodology integrates near-future design (based on SINIC theory), business model development, and intellectual property strategy across a staged program menu: Spot Assist (single-session consultation), SPRINT (6-month intensive 0→1 program), Business Lab (bi-weekly sessions), Living Lab (PoC field design), Co-DEZIMA (independent spinout creation with equity participation), and Growth Support (10→100 scaling).

The firm's signature offering is the Co-DEZIMA 'exit island' scheme, which establishes independent startups outside parent company governance constraints while maintaining access to corporate assets (technology, customers, brand). Co-Studio takes equity stakes and dispatches management into each spinout. Six portfolio/group companies are active: do.Sukasu (spatial cognition technology, spun out from Sumitomo Pharma, JPY 105M+ raised, targeting Series A), Aikomi (AI dementia digital therapy, spun out from a major pharma, ~JPY 100M crowdfunding), Hers HeAlth Technologies (women's bone health, Co-DEZIMA #3 with Asahi Kasei Pharma, 2025), Life Reversal Gaming (eSports events), Comunion (regional revitalization), and SG Lab (R&D combining generative AI and quantum mechanics). EnaForward completed exit in 2026 as the first Co-DEZIMA success case. Cumulative portfolio fundraising reached 570M yen within 2 years as of mid-2025.

Co-Studio has supported 60+ enterprise clients including Sumitomo Pharma, Asahi Kasei Pharma, Otsuka, Shionogi, Eisai, Ajinomoto, Kirin, Suntory, JT, Daikin, OMRON, SOMPO, Tokyo Gas, ENEOS, Mitsui & Co., and Mitsui Fudosan. The company operates the Night DEZIMA community platform connecting intrapreneurs from 30+ companies across Tokyo, Fukuoka, and Osaka, with 12+ events held. Headcount is 11-50 with headquarters at Nihonbashi, Tokyo. Revenue is not publicly disclosed; the business model combines professional services fees (program-based engagements) with equity participation in spinout ventures, creating dual revenue streams and aligning Co-Studio's incentives with long-term portfolio outcomes.

Name

Co-Studio

Legal name

Co-Studio株式会社

Website

https://co-studio.co.jp

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Co-Studio is a Tokyo-based professional services firm founded in 2019 that co-creates new businesses with large Japanese corporations through structured innovation programs and an equity-participating spinout (Co-DEZIMA) scheme, having supported 60+ enterprises and built six portfolio companies.

Ownership category

akta.pro rank

Product category

Corporate Innovation and New Business Development Consulting

NAICS

Other Management Consulting Services (541618), Management Consulting Services (54161)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Corporate Venture Studios & Incubators (Build/launch ventures) (FSANAHAC)

Keywords

• Corporate innovation consulting
• New business development
• Intrapreneurship programs
• Corporate venture studio
• Startup incubation services

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Others

Revenue model

1. Professional Services - Program Fees: Co-Studio generates revenue through structured professional service programs. These include SPRINT (6-month intensive program), Business Lab (bi-weekly sessions), Living Lab (PoC support), and Co-DEZIMA (equity-participating startup creation). The company takes equity stakes in startups created through Co-DEZIMA as part of its revenue model, sharing in upside when ventures succeed or exit.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Co-Studio provides structured new business development services to large Japanese corporations through phased programs: SPRINT (6-month near-future design + business model + patent development), Business Lab (bi-weekly problem-solving sessions), Living Lab (PoC execution), Co-DEZIMA (independent startup creation with equity participation), Growth Support (scale-stage advisory), and Spot Assist (single-session consulting). The company also operates the Night DEZIMA community for corporate intrapreneurs and takes equity stakes in spin-out ventures as an alternative to fee-only consulting.

Product overview

Co-Studio is an 'Open Studio for Innovation' that co-creates new businesses with large corporations. The company operates as a service platform offering multiple programs across business phases: 0→1 (SPRINT, BUSINESS LAB, LIVING LAB, Spot Assist), 1→10 (Co-DEZIMA for spin-off startup establishment), and 10→100 (Growth Support). Co-Studio takes equity stakes in ventures rather than fee-only models. The portfolio includes portfolio companies do.Sukasu (spatial cognition technology), Aikomi (AI dementia care), and Hers HeAlth Technologies (bone health). Group companies include Life Reversal Gaming (e-sports events), Comunion (regional community), and SG Lab (R&D). The company also operates Night DEZIMA, a community platform for intrapreneurs to network and share experiences.

Differentiator

Problem solved

Functional benefit

Products and services

• SPRINT A 6-month intensive program for the 0→1 phase of new business development, combining near-future design (SINIC theory), business model design, and patent development into a unified approach (Biz&Pat 3 months + Scrum 3 months). Designed for large Japanese enterprises looking to launch new business ventures.
• BUSINESS LAB Bi-weekly 1-2 hour sessions for continuous problem-solving of new business challenges, covering business model design, intellectual property strategy, and near-future design for venture conception. Typically a 3+ month engagement for large-enterprise new business development teams.
• LIVING LAB PoC design and implementation support for large enterprises that lack demonstration fields, utilizing Co-Studio's network to set up appropriate validation environments for new business experiments.
• Co-DEZIMA Equity-participating startup creation scheme that establishes independent "exit-island" companies outside large-corporation governance constraints. Co-Studio takes equity stakes in the subsidiaries it co-founds and participates as a management co-creator. Currently 4 companies in operation or EXIT completed (do.Sukasu, Aikomi, Hers HeAlth Technologies, Ena Forward).
• Growth Support Acceleration support covering strategy, organization, and fundraising for established Co-DEZIMA portfolio companies at the 10→100 scale phase.
• Spot Assist One-time 1-hour brainstorming (wall-battle) sessions for specific new business challenges, delivered by Co-Studio members with new business development experience. Pay-as-you-go entry point for prospective enterprise clients.
• Night DEZIMA Regular closed-door networking events for intrapreneurs from large Japanese companies (30+ participating companies, 12+ events held nationwide). Designed for cross-industry experience sharing among new business development professionals.

Named customers18 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Mitsui & Co. (三井物産)coreGTM or Marketing Partner · 11 March 2026Co-organizing the 'New Business Exhibition' networking event in March 2026 at Moon Creative Lab in Tokyo. Event targets intrapreneurs from Mitsui & Co. group and cross-industry professionals for MVP and POC sharing.
• Axis (アク시스)minorStrategic or Co-development Partner · 1 January 2026do.Sukasu entered business partnership with Axis to establish new driving evaluation indicators using spatial cognition visualization technology, aiming to reduce traffic accident risk and achieve zero traffic accidents.
• Mujiko Create (ムジコ・クリエイター)minorStrategic or Co-development Partner · 1 January 2026do.Sukasu and Mujiko Create entered business partnership to develop 'safe traffic society members' and work toward zero traffic accidents.
• Helcheck (総合健診センターヘルチェック)minorStrategic or Co-development Partner · 1 October 2025Hers HeAlth Technologies partnered with Helcheck to jointly approach social issues related to bone density examination. Pilot programs and demonstration experiments initiated.
• Asahi Kasei Homes Osaka North Branch (旭化成ホームズ大阪北支店)minorStrategic or Co-development Partner · 1 October 2025Hers HeAlth Technologies and Asahi Kasei Homes Osaka North Branch co-hosted a joint seminar on the theme 'The foundation of beauty is bones.'
• Asahi Kasei Pharma (旭化成ファーマ)coreStrategic or Co-development Partner · 23 May 2025Co-DEZIMA partnership where Asahi Kasei Pharma collaborated with Co-Studio to establish Hers HeAlth Technologies in May 2025. This is Co-DEZIMA's 3rd case. Asahi Kasei Pharma contributes pharmaceutical assets and market knowledge while Co-Studio provides startup formation and business development expertise.
• Nara Women's University (奈良女子大学)minorStrategic or Co-development Partner · 1 January 2025do.Sukasu entered joint research agreement with Nara Women's University to verify effects of VR-based spatial cognitive training on fall risk reduction in healthy elderly.
• Osaka-Kansai Expo (大阪・関西万博)minorStrategic or Co-development Partner · 1 January 2025do.Sukasu exhibited its spatial cognitive training system 'de.Sukasu Training CATCH' at the Osaka-Kansai Expo.
• Nara Prefecture and City (奈良県・市)minorStrategic or Co-development Partner · 1 October 2024do.Sukasu collaborated with Nara Prefecture and City to conduct field evaluation of driver safety support app 'de.Sukasu DRIVE'.
• Tokyo Metropolitan Rehabilitation Hospital (東京都リハビリテーション病院)minorStrategic or Co-development Partner · 1 September 2024do.Sukasu began joint research with Tokyo Metropolitan Rehabilitation Hospital to study spatial cognition training effects.
• Sumitomo Pharma (住友ファーマ)coreStrategic or Co-development Partner · 26 June 2023Sumitomo Pharma invested in Aikomi (established through spinout) and Co-Studio participates in management through director dispatch and business development support. Also partnered for SPRINT program resulting in do.Sukasu spinout.
• Kicker Ventures (米国)minorStrategic or Co-development Partner · 1 January 2023Co-Studio partners with Kicker Ventures (US) through 'Kicker Japan Fit' program to connect Japanese large corporations with North American startups for global open innovation opportunities.
• OFA Support (OFAサポート)minorStrategic or Co-development Partner · 1 January 2022do.Sukasu partnered with OFA Support to provide visual cognitive evaluation and training services to driving schools, supporting safe driving in super-aging society.
• Ime (アイム)minorStrategic or Co-development Partner · 1 January 2021do.Sukasu partnered with Ime to verify business solutions addressing visual cognitive problems for people with developmental disabilities.
• Fukuoka Jisho (福岡地所)minorStrategic or Co-development PartnerCo-Studio designed and operated 3 consecutive networking events for Fukuoka Jisho's life sciences facility. Events aimed at building innovator community among tenants and partners.

Scale indicators7 records

Recent moves11 records

Expansion highlights6 records

Emerging players

• World Innovation Lab (WiL): Japan/US hybrid venture firm partnering with large Japanese corporates for open innovation and corporate venture building. Comparable as a trans-Pacific corporate-startup bridge, though more VC-oriented than Co-Studio's consulting-and-studio model.
• DG Incubation: Digital Garage's CVC arm investing in and co-creating startups with Japanese corporates. Overlaps with Co-Studio's Co-DEZIMA-style venture creation mandate, particularly in digital and platform businesses, though backed by a larger corporate parent.

Broad incumbents

• McKinsey & Company: Global management consulting firm serving Japanese large enterprises on strategy and new business growth. Competes with Co-Studio for corporate new-business-development budgets at the high end, though delivered as fee-only advisory rather than equity-participating venture studio.
• Bain & Company: Global management consulting firm serving Japanese large enterprises on corporate strategy and innovation. Competes for the same enterprise new-business-development wallet, though typically without equity participation or venture-studio spinout mechanisms.
• Boston Consulting Group: Global strategy consulting firm with a deep Japan practice advising large corporates on growth, innovation, and transformation. Overlaps with Co-Studio's enterprise innovation mandate as a broader, fee-only incumbent.

Direct peers

• Plug and Play Japan: Japan arm of global Plug and Play ecosystem, running corporate innovation programs and accelerator cohorts with major Japanese enterprises. Comparable as a partner-of-choice for large-corporate open innovation and venture creation in Japan.
• Creww: Japan's largest open-innovation platform connecting startups with large enterprises for co-creation and pilot programs. Targets the same Japanese enterprise-innovation buyer as Co-Studio and offers overlapping new-business-development services.
• eiicon: Japanese open-innovation matching platform facilitating startup-corporate collaboration, including new business co-creation programs. Operates in the same Japanese enterprise-innovation buyer segment with adjacent corporate venture services.
• 01Booster: Tokyo-based corporate accelerator and venture studio that helps Japanese large enterprises launch new businesses externally. Operates a similar 'outside-the-company' venture-building model targeting enterprise innovation teams, directly comparable to Co-Studio's Co-DEZIMA scheme.
• Relic: Japanese corporate venture builder specializing in 0→1 business creation with large enterprises via equity-participating spinout studios. Closely mirrors Co-Studio's methodology of taking equity stakes in ventures co-created with corporate partners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 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 Co-Studio