Having developed and assisted an undisclosed number of games across any gaming system you can think of since 1979, Tose (or Tose Software) is one of Japan’s biggest and most highly regarded independent contractors for game development. Although the company has a track record with major domestic publishers like Nintendo, Square Enix, Bandai Namco and Capcom, it’s seldom credited on the games it works on, which has earned it the reputation of a “ghost developer” within the industry.
While some of Tose’s recent known projects include Dragon Quest I & II HD-2D Remake and Tales of Graces f Remastered, a new document published by the company sheds light on some of its biggest clients in the fiscal year ended August 2025. As reported by GameBiz, Persona and Shin Megami Tensei developer Atlus was Tose’s top customer for the second consecutive year, accounting for 22.3% of the company’s total revenue.
Square Enix was second, accounting for 16.9% of the developer’s total revenue. This year, the Final Fantasy publisher had a significantly higher share than the previous fiscal year, when it was below 10%. Other major clients were, in order, Bandai Namco Studio, Takara Tommy, Aquaplus, and Bandai Namco Entertainment.
Related: Tose decides to prioritize console game development in face of mobile market’s saturation
Japanese co-development studio Tose sees major turnaround in profit as orders for new games increase
