What Pegasus Japan does

Pegasus Japan Corp (株式会社ペガサスジャパン) is a Fukuoka, Japan-based private game development studio founded on March 20, 1989, with 11-50 employees and registered capital of 10 million yen. The company specializes in 3D game content production for Japanese publishers, including character modeling, motion capture/animation, Unity effects, and Unreal Engine programming for console (home console and Nintendo 3DS), smartphone (iOS/Android), and pachinko/slot machine titles. Its core technology stack centers on Unreal Engine, AutoDesk Maya, and Unity, and it has shipped over 20 named titles between 1996 and 2022 with publishers such as Acquire, Bandai Namco, Taito, ASCII Media Works, and Asmik Ace Entertainment. The business model is project-based outsourcing and co-development, with revenue from one-time licensing and professional services; the company self-publishes or co-publishes through these publisher partners and distributes via app stores and console platforms.

The company monetizes through game software sales/licensing, audio production (Sound Division reactivated in 2021), and — since 2022-2023 — a newly established Automotive Division in Ōnojō City offering body repair, painting, and vehicle inspection services to individual vehicle owners and a single named enterprise client (Nissan Satio Saga). Pricing is not publicly disclosed; contracts are negotiated directly with publishers and the automotive factory operates on a walk-in/appointment basis. Go-to-market relies on a long-standing track record with repeat publisher clients and a minimal web presence (corporate website with closed inquiry form, no active social channels). The operating geography remains Fukuoka Prefecture with a referenced Tokyo branch, and there is no evidence of AI/ML capability, patents, institutional funding, awards, or external partnerships.

Name

Pegasus Japan

Legal name

株式会社ペガ萨斯ジャパン

Website

https://pegasus-japan.co.jp

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

Pegasus Japan is a Fukuoka-based game development studio founded in 1989 that provides 3D modeling, motion, and Unreal Engine programming outsourcing to Japanese publishers, and recently added an automotive body repair and inspection division.

Ownership category

akta.pro rank

Product category

Video Game Development Services

akta.pro primary industry

PC & Console Game Distribution Platforms (BPAMAKAA)

Keywords

• Game development services
• 3D character modeling
• Console game development
• Mobile game development
• Pachinko slot CG

Headquarters

HQ city

Hakata

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Game Software Sales: The company develops and sells game software (console, mobile). Revenue comes from game sales and licensing to publishers, including RPGs, shooters, and pachinko/slot machine content.
2. Sound and Audio Services: Sound division produces audio content for games, restarted in 2021.
3. Automotive Services: Body repair (鈑金), painting (塗装), vehicle inspection (車検整備), and related automotive services offered through the newly established Automotive Division.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels1 record

Core offering

Pegasus Japan provides contract game software development services for console, mobile, and pachinko/slot machine platforms, alongside 3D character modeling, motion capture, effects, sound production, video content creation, and computer software development. Since 2023, the company also operates an automotive services division offering body repair, painting, vehicle inspection and maintenance, and new/used car sales.

Product overview

Pegasus Japan Corp (株式会社ペガ萨斯ジャパン) is a game development studio offering custom game software development services for Nintendo 3DS, iOS, and Android platforms, along with computer software development and video content production. The company also operates a Sound Division and a newly established Automotive Division (opened in 2023). The core offering is game development services, including 3D character modeling, motion, and Unity effects for RPGs and shooting games. The Sound Division restarted operations in 2021. The company also expanded into automotive services (body repair, painting, vehicle inspection) as a new business division.

Differentiator

Problem solved

Functional benefit

Products and services

• Contract Game Software Development (Console, Mobile, Pachinko/Slot) Planning and development of game software for console platforms, mobile devices, and pachinko/slot machines, delivered as contract development for Japanese game publishers such as Bandai Namco Entertainment, Acquire, Taito, and Square Enix.
• 3D Character Modeling, Motion, and Effects Production

Named customers8 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

Feature3 records

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Grounding Inc. Japanese game development studio recognized for co-development and outsourcing work with major publishers including Capcom on the Resident Evil series. Highly comparable co-development/outsourcing business model serving tier-one Japanese publishers.
• Tose Co., Ltd. Japan's largest 'invisible' game developer providing outsourced development services to publishers without public-facing branding. Closely comparable service-only outsourcing model and similar mid-sized studio profile targeting Japanese publishers.
• Vanillaware Co., Ltd. Japanese game developer specializing in high-quality artistic content for titles such as Odin Sphere and Dragon's Crown. Similar specialized artistic content production approach within a comparable small Japanese studio footprint.
• Inti Creates Co., Ltd. Japanese independent game developer known for Mega Man 9/10 and the Azure Striker Gunvolt series. Comparable small/medium Japanese independent game development studio profile with similar outsourced work history on legacy Japanese IP.
• M-Two Co., Ltd. Japanese game development studio co-founded with Capcom, focused on co-development services for major publishers. Directly comparable service-oriented mid-sized Japanese game development model.
• ArtPlay Co., Ltd. Japanese independent game developer known for Bloodstained: Ritual of the Night and Castlevania titles. Comparable small/medium-sized Japanese game development studio profile with similar 3D/2D content production roots.
• M2 Inc. Sega-affiliated Japanese game developer focused on retro game remakes, ports, and licensed title development with embedded development services. Similar mid-sized Japanese studio profile with a development services angle.

Broad incumbents

• CyberConnect2 Co., Ltd. Established Japanese game developer known for Naruto, Dragon Ball Z, and .hack franchises. Listed as a Pegasus Japan client (likely receiving 3D modeling/animation outsourcing), it operates as a broader incumbent in the same Japanese game development ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights6 records

Customer concentration

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 Pegasus Japan