Game Studio

What Game Studio does

Game Studio Inc. (株式会社ゲームスタジオ) is a Tokyo-headquartered Japanese game development studio founded in April 2004, operating as a wholly-owned subsidiary of NJ Holdings Corporation. The company runs a dual business model: (1) B2B contract development and live operations for major Japanese IP holders including Bandai Namco (SYNDUALITY Echo of Ada), Square Enix (Infinity Strash: Dragon Quest Dai no Daibouken, the LORD of VERMILION arcade series), KADOKAWA (誰が勇者を育てたか -Spin of Fate-, Mayhem Maidens), Konami (ラブラプラス EVERY), Sega (StarHorsePocket+), Benesse (educational titles), and Bushiroad (Triple Monsters); and (2) self-published original IP including the 脱獄ごっこ/Datsugoku franchise (10M+ mobile downloads, Nintendo Switch Edition launched April 2026), the 青鬼/Aooni horror series (200K+ copies sold), ピンチ50連発!! (Fischer's collaboration), and Mayhem Maidens.

The studio develops using Unity and Unreal Engine for cross-platform deployment across Nintendo Switch, PlayStation 4/5, Xbox, Steam, iOS, Android, and arcade systems, and has expanded into Fortnite UEFN custom maps. It employs approximately 230 staff across three offices (Tokyo HQ, Kyoto since 2014, Aomori since 2017). Revenue is earned through development fees on commissioned titles, one-time license sales on self-published titles, and managed live services for ongoing games such as SYNDUALITY Echo of Ada. The company distributes its titles through digital storefronts and partner publishers, and markets them via its corporate website, PR Times press releases, dedicated social accounts, trade show presence (TGS, gamescom, BitSummit), and content creator guidelines encouraging streaming.

Name

Game Studio

Legal name

株式会社ゲームスタジオ

Website

https://gamestudio.co.jp

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

Game Studio Inc. is a Tokyo-headquartered Japanese game developer (230 staff) that both self-publishes original IPs such as Datsugoku and Aooni and contracts development and live operations for major IP holders including Bandai Namco, Square Enix, and KADOKAWA across console, mobile, PC, and arcade platforms.

Ownership category

akta.pro rank

Product category

Video Game Development and Publishing

NAICS

Software Publishers (513210)

SIC

Services-Computer Programming Services (7371), Services-Motion Picture & Video Tape Production (7812)

akta.pro primary industry

Co-Development, Porting & Remaster Studios (MPAFAAAM)

akta.pro secondary industries

Indie Game Studios (MPAFAAAC), Live-Service & MMO Game Studios (MPAFAAAD), Narrative/Adventure & RPG Game Studios (MPAFAAAL)

Keywords

• Game development services
• Mobile game development
• Console game development
• Self-published games
• Live game operations

Headquarters

HQ city

Minato

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, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Contract Game Development: Game Studio develops games under contract for IP holders and publishers such as Bandai Namco, Square Enix, KADOKAWA, Konami, Sega, and others. Revenue is earned as a development fee or work-for-hire arrangement.
2. Self-Published Original Titles: Game Studio develops and self-publishes original IP titles (e.g., 脱獄ごっこ, ピンチ50連発!!, 青鬼, Mayhem Maidens, UNDERGROUNDED) on platforms including Nintendo Switch, Steam, and PlayStation, earning revenue from direct sales.
3. Game Operations and Live Services: Game Studio operates live services for titles such as SYNDUALITY Echo of Ada, managing ongoing content seasons and updates for which it earns operational revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels11 records

Core offering

Game Studio is a Japanese game development company that develops and self-publishes original game titles on Nintendo Switch, Steam, PlayStation, Xbox, and mobile platforms, while also providing contract development and live operations services to major Japanese IP holders and publishers such as Bandai Namco, Square Enix, KADOKAWA, Konami, and SEGA. The company works across genres including horror, action, RPG, simulation, tower defense, and educational games, using Unity, Unreal Engine, and UEFN tooling.

Product overview

Game Studio is a Japanese game development company offering a diverse portfolio of games across multiple platforms including Nintendo Switch, Steam, PlayStation, and Xbox. The company develops both original titles and commissioned works for major IP holders. The product lineup centers on action and horror games (Aooni series, Datsugoku, Pinch 50 Barrage), tower defense roguelikes (Mayhem Maidens), PvPvE shooters (SYNDUALITY Echo of Ada), and licensed anime-based games (Echoes of Aincrad, Infinity Strash Dragon Quest Dai no Daibouken). The company also creates content for Fortnite Creative using UEFN and develops mobile applications. Game Studio serves various market segments from family-friendly action games to horror and strategy titles.

Differentiator

Problem solved

Functional benefit

Products and services

• 脱獄ごっこ Nintendo Switch Edition (Datsugoku Nintendo Switch Edition) Asymmetric multiplayer communication battle action game where players alternate between cooperation and betrayal, supporting up to 8 players with new game modes including Hoshitori Battle, new maps, character skins, accessories, and a title system. Co-developed and co-published with LiTMUS.
• 青鬼 ブルーベリー温泉の怪異 (Aooni: The Horror of Blueberry Onsen) Latest entry in the legendary horror game series Aooni, set in an abandoned hot spring where players must escape while uncovering the mystery of the blueberry hot spring and what awaits at the deepest level. Available on Steam and Nintendo Switch. Co-developed with LiTMUS and noprops.
• ピンチ50連発!! FEAT. Fischer's -フィッシャーズ- (50 Pinch Barrage!! FEAT. Fischer's) Cinematic action game collaboration with YouTube creator group Fischer's where players overcome approaching dangers and traps with heroic intuition and action technique. Co-developed with LiTMUS and UUUM.
• Mayhem Maidens High-intensity roguelike tower defense game featuring simultaneous 5-character control, free strategy, and deck building to defend the base from enemy forces. Published with KADOKAWA and 0UP GAMES.
• 誰が勇者を育てたか -Spin of Fate- (Spin of Fate) Slot-deck-building hero training game combining slot mechanics, deck building, and hero training where players deepen bonds with companions and use customized slots to raise the hero who saves the world. Published with KADOKAWA and 0UP GAMES.
• SYNDUALITY Echo of Ada PvPvE shooter/survival TPS game where players pilot mechs and compete for items on the ground with partner meigas. Features ever-changing environments and deepening buddy experience with meigas companions. Developed and operated under license from Bandai Namco Entertainment.
• インフィニティ ストラッシュ ドラゴンクエスト ダイの大冒険 (Infinity Strash Dragon Quest: Dai no Daibouken) Action RPG where players control characters from Dai's Adventure, featuring Story Mode to experience the original story and Memory Temple mode with procedurally generated dungeons. Commissioned by Square Enix.
• 青鬼 (Aooni) Classic horror game revived and evolved with official double-speed mode and new mode Aooni - Blue Chapter. Players face the terror of the approaching blue demon. Co-developed with LiTMUS and noprops.
• UNDERGROUNDED Upcoming game title developed by Game Studio, featured at Tokyo Game Show 2025 and gamescom 2025 with a demo available on Steam Next Festival.
• Echoes of Aincrad Game based on the Sword Art Online anime series, commissioned for development. Scheduled for release on July 9, 2026.
• 檻ノ鳥 THE BIRD IN THE CAGE Japanese horror survival action game where players must survive 5 minutes in a room filled with cursed traps, published as a Fortnite Creative map using Unreal Editor for Fortnite (UEFN).
• BARRAGE ARENA 3v3 360-degree bullet hell shooting battle game published as a Fortnite Creative map for Android, PC, PS4, PS5, Nintendo Switch, and Xbox Series S|X.

Quantifiable outcome

• 10M+ cumulative downloads for 脱獄ごっこ mobile app
• +1 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Bandai Namco EntertainmentcoreStrategic or Co-development PartnerGame Studio is contracted to develop and operate SYNDUALITY Echo of Ada, a PvPvE shooter IP owned by Bandai Namco. Game Studio handles full-cycle development and ongoing live service operations including seasonal content updates.
• Square EnixcoreStrategic or Co-development PartnerGame Studio has developed multiple Square Enix titles including Infinity Strash: Dragon Quest Dukemonia (console/PC), the LORD of VERMILION arcade series (LoV I through LoV IV and spin-offs), Figureheads (PS4), and BARRAGE ARENA 3v3 (Fortnite UEFN). These are licensed development relationships.
• KADOKAWA CorporationcoreStrategic or Co-development PartnerGame Studio developed 誰が勇者を育てたか -Spin of Fate- in partnership with KADOKAWA and 0UP GAMES, released on Steam. KADOKAWA serves as the publisher for this title.
• KONAMI Digital EntertainmentminorStrategic or Co-development PartnerGame Studio developed ラブプラス EVERY, a communication game for iOS/Android, under Konami's IP and published by Konami Digital Entertainment.
• SEGAminorStrategic or Co-development PartnerGame Studio developed StarHorsePocket+, a horse-racing simulation game published by SEGA for mobile platforms.
• LiTMUScoreStrategic or Co-development PartnerGame Studio co-develops and co-publishes original IP titles including 脱獄ごっこ (10M+ DL mobile franchise) and the 青鬼 horror series with LiTMUS. These are proprietary franchises where Game Studio and LiTMUS collaborate.
• Benesse CorporationminorStrategic or Co-development PartnerGame Studio has developed multiple educational game titles for Benesse Corporation, including 定期テスト暗記トラベラー (learning app), 小学校完成モンスターアドベンチャー (educational RPG), 都道府県陣取りバトル47 (learning game), and others. Benesse publishes these titles.
• Fischer's (UUUM)minorStrategic or Co-development PartnerGame Studio collaborated with YouTube creator group Fischer's (operated by UUUM) to develop ピンチ50連発!! FEAT. Fischer's -フィッシャーズ-, a co-branded Nintendo Switch title featuring the Fischer's channel's characters and branding.
• BushiroadminorStrategic or Co-development PartnerGame Studio developed トリプルモンスターズ (Triple Monsters), a trading card game/RPG published by Bushiroad for mobile platforms.
• AimingminorStrategic or Co-development PartnerGame Studio provided development cooperation for ダンジョンに出会いを求めるのは間違っているだろうか バトル・クロニクル, released by Aiming. Also developed 北海道連鎖殺人オホーツクに消ゆ for G-MODE.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• PlatinumGames: Established Japanese action-game developer (Bayonetta, NieR) doing both self-published and contract work for publishers like Square Enix and Nintendo. Comparable hybrid structure at larger scale.
• Keywords Studios: Global leader in game development support services (localization, QA, co-development, art services). A broader incumbent in the outsourced game development space relevant to Game Studio's contract business.
• Level-5: Larger Japanese developer/publisher with strong self-published franchises (Professor Layton, Yo-kai Watch, Inazuma Eleven) and external co-development work. A broader incumbent in the same market.

Direct peers

• Acquire Corp: Tokyo-based developer blending co-development work for major publishers with self-published titles (Tenchu, Way of the Samurai, Octopath Traveler co-development). Similar dual B2B/B2C model.
• CyberConnect2: Fukuoka-based Japanese studio widely known for co-development and contract work on major publisher IP (.hack, Naruto, Dragon Ball Z games), closely matching Game Studio's B2B contract development model.
• ArtPlay: Japanese game studio led by Koji Igarashi, focused on contract development and self-published titles in the action/RPG space. Comparable hybrid model serving publishers and direct consumers.
• Grounding Inc. Japanese game developer with a hybrid model of contracted development for publishers and original IP work (Yakuza series co-development). Closely comparable to Game Studio's contract-and-IP mix.
• M2 (Japanese game studio): Japanese studio specializing in retro ports, remasters, and co-development work for publishers like Sega and Capcom (Sega Ages, Castlevania collections). Highly comparable to Game Studio's porting and co-development services.

Regional players

• Aiming Inc. Tokyo-listed Japanese developer focused on online/mobile game development with both contract and self-published operations. Comparable in size and B2B + B2C mobile/online mix.

Emerging players

• Too Kyo Games: Japanese studio founded by Kazutaka Kodaka (Danganronpa creator) doing co-development and original IP work with Nintendo and Spike Chunsoft. Comparable on the contract-plus-original-IP axis.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/aooni_official
• YouTubeyoutube.com/@pinch_50
• Facebookfacebook.com/mobileandgamestudio
• TikToktiktok.com/@pinch_50

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Game Studio