Matsumoto

What Matsumoto does

Matsumoto Inc. is a Japanese printing and document production company founded in 1932 in Kitakyushu, Fukuoka Prefecture, and listed on JASDAQ since 1994. The company's core business is the production of graduation albums (卒業アルバム) for approximately 7,000 elementary, junior high, and high schools annually across Japan, supplemented by general commercial printing (catalogues, posters, DM) and proprietary hologram printing technology. Matsumoto operates four manufacturing facilities (Saruodai, Matsubara, Shanonoki, Takahama) in Kitakyushu and three sales offices in Tokyo, Nagoya, and Fukuoka, employing 187 staff as of the fiscal year ending April 2025.

The company generates revenue primarily through one-time B2B contracts with schools for graduation albums and commercial print jobs, distributed via direct field sales. Under president Matsumoto Daiki (appointed July 2022), Matsumoto has expanded into digital and Web3 services, including the ShinoVi NFT marketplace (launched 2023) operating on the Polygon blockchain, the MNS (Home Room) digital content platform for graduates, and the Web3電子の巻 owned-media content site. Web3/NFT operations are currently a minor revenue stream; the CEO has stated that yearbook and anthology printing still constitutes nearly all sales.

Strategic priorities since 2022 have centered on integrating blockchain technology into traditional graduation albums — notably via a July 2024 partnership with NTT Digital using the scramberry WALLET for Business service — and diversifying into adjacent verticals such as generative AI education programs (October 2024) and a truancy support project (December 2024). The company also maintains international Web3 partnerships with Spain-based Compdeep, the Avalanche public blockchain, and Taiwan's Old City Association for metaverse tourism initiatives.

Name

Matsumoto

Legal name

株式会社マツモト

Website

https://matsumoto-inc.co.jp

Company type

Public

Founded year

1932

Operating status

Operating

Headcount range

101–250 employees

Short description

Matsumoto is a Japanese printing company producing graduation albums for approximately 7,000 schools annually and commercial print materials, with newer operations in Web3/NFT marketplace (ShinoVi) and blockchain-connected educational services.

Ownership category

akta.pro rank

Product category

School Photography & Printing Services

SIC

Book Printing (2732), Books: Publishing Or Publishing & Printing (2731)

akta.pro primary industry

Picture Book Publishing (MPAJAFAA)

Keywords

• School portrait photography
• Graduation albums
• Commercial printing
• Hologram printing
• NFT marketplace

Headquarters

HQ city

Kitakyushu

HQ country

Japan

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. 卒業アルバム・文集印刷 (Yearbook & Anthology Printing): Primary revenue source producing graduation albums and anthologies for approximately 7,000 schools annually in Japan. Represents the vast majority (nearly all) of the company's sales according to the CEO.
2. 一般商業印刷 (Commercial Printing): General commercial printing including catalogues, posters, flyers, DM materials, and various other printed materials.
3. Web3/NFT Services (ShinoVi): NFT marketplace operations and blockchain-related services. Revenue from digital art NFT sales on the ShinoVi platform.
4. デザイン・企画・トークン事業 (Design, Planning & Token Services): Design, planning, and token/blockchain-based business services.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Matsumoto produces graduation photo albums for Japanese schools at a scale of roughly 7,000 schools per year, leveraging its origins as a photo studio founded in 1932. Beyond school photography, the company offers commercial printing services and specialized hologram printing, and operates the ShinoVi NFT marketplace for digital content distribution. Its customers are primarily Japanese educational institutions and commercial enterprises seeking printing and authentication/anti-counterfeit solutions.

Product overview

Matsumoto operates as a diversified printing and technology company with a portfolio spanning traditional printing services and Web3 digital platforms. The core business centers on graduation album production (7,000 schools annually) and general commercial printing, while newer digital offerings include ShinoVi (NFT marketplace for Japanese digital art) and related Web3 services. The product ecosystem integrates traditional album/printing services with blockchain-based digital content, connected through proprietary technologies like hologram printing and the MNS online platform. The company positions itself as transitioning from a traditional printing company to a content supplier leveraging Web3.0 technologies.

Differentiator

Problem solved

Functional benefit

Brands

• ShinoVi: NFTマーケットプレイス。日本のクリエイター作品を世界へ発信するデジタルアートNFT販売プラットフォーム。
• MNS

Products and services

• Graduation Photo Albums Annual graduation photo album production service for Japanese K-12 schools, covering on-site photography, design, printing, and delivery of class graduation albums to schools and families.
• Commercial Printing Commercial printing services for business customers, including catalogs, brochures, packaging materials, and other printed collateral produced at Matsumoto's printing facilities.
• Hologram Printing Specialized hologram printing for anti-counterfeit labels, security stickers, and brand-authentication applications, serving enterprises needing tamper-evident and visually distinctive printed security features.
• ShinoVi NFT Marketplace Online NFT marketplace where users can mint, list, buy, and trade digital content and collectibles, operated by Matsumoto as a Web3 distribution channel.

Quantifiable outcome

• 卒業アルバム年間7,000校制作

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability5 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• NTT DigitalcoreStrategic or Co-development Partner · 25 July 2024Matsumoto signed a basic agreement with NTT Digital to provide a new 'Home Room, Graduation Album with scramberry' service targeting elementary, junior high, and high schools using NTT Digital's 'scramberry WALLET for Business' service. The partnership aims to deliver blockchain-connected graduation albums integrated with NTT Digital's wallet service to schools across Japan.
• 台湾 Old City Association社 / 資訊工業策進會 (III)minorStrategic or Co-development Partner · 19 July 2024Matsumoto's partner Compdeep signed a basic MOUsign with Taiwan's Kaohsiung Old City Association, witnessed by the Institute for Information Industry (III, Taiwan's digital development ministry equivalent), for Web3 and ShinoVi-based tourism and metaverse game creation initiatives.
• Compdeep社 (Spain/Barcelona)coreStrategic or Co-development Partner · 27 March 2024Matsumoto partnered with Compdeep (based in Barcelona, Spain, CEO Cormac Guerin) for game development and Web3.0 marketplace ShinoVi operations. Compdeep developed ShinoVi and the companies collaborate on game development and sales through the Avalanche blockchain ecosystem. Matsumoto's cooperative company Compdeep also signed an MOUsign with Taiwan's Old City Association for tourism and metaverse game creation using ShinoVi.

Scale indicators5 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Nakabayashi Co., Ltd. Japanese manufacturer of stationery, photo albums, and paper products with direct overlap to Matsumoto's yearbook/photo album business. Comparable in target customer (B2B schools/retail) and product format.
• Kyodo Printing Holdings: Mid-cap Japanese printing company producing books, commercial print, and packaging. Comparable in scale and product mix to Matsumoto's commercial printing and yearbook operations, and faces the same structural Japan print-market headwinds.
• Seiko Inc. (Seiko Printing Group): Japanese printing group active in commercial printing, photo products, and book manufacturing. Comparable mid-tier Japanese printing peer with overlapping yearbook/photo album and commercial print offerings.
• LINE Xenesis (LINE NFT, part of LY Corporation): Operates one of Japan's leading Japanese-language NFT marketplaces, directly comparable to ShinoVi in serving Japanese creators and collectors. Represents the primary domestic competitive threat in the Japan-focused NFT segment.
• Asahi Printing Co., Ltd. Small-cap Japanese commercial printing company (publicly listed) serving a similar B2B customer base with catalogues, packaging, and commercial print — closely comparable in scale and product focus to Matsumoto.

Broad incumbents

• Benesse Holdings: Major Japanese education services group (cram schools, educational publishing, school services). Highly relevant adjacent comparable for Matsumoto's K-12 school customer base, particularly as both companies extend into digital and AI-enabled education services.
• OpenSea: Largest global NFT marketplace and the de facto benchmark for ShinoVi's product category. Relevant comparable for marketplace economics, user experience, and the global Web3 distribution channel that ShinoVi is trying to access.
• Dai Nippon Printing (DNP): One of the world's largest printing conglomerates, with overlapping commercial printing, decorative/hologram, and information services. Relevant comparable for Matsumoto's commercial print and differentiated finish capabilities, though vastly larger and more diversified.
• Toppan Holdings: Major Japanese printing and information communications conglomerate. Overlaps with Matsumoto in commercial printing and security/hologram-related print, but operates at vastly greater scale with a much broader portfolio.

Others

• Compdeep: Barcelona-based Web3/game development partner that built and operates the ShinoVi platform alongside Matsumoto. Not a direct competitor, but the closest ecosystem peer given its co-development role and shared exposure to the Avalanche gaming and ShinoVi marketplaces.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/web_Matsumoto
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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Matsumoto