The company has participated in the development of hundreds of games, but it is usually not mentioned in the credits.
Japanese company Tose Co., Ltd, one of the oldest and most respected "phantom" contractors in the gaming industry, has published its financial report for the year ended August 2025. The document sheds light on the revenue structure of the company, which since 1979 has participated in the development of hundreds of games for numerous platforms, but almost never made it into the credits.
According to the GameBiz.jp portal, Atlus, the developer of the Persona and Shin Megami Tensei series, became the leader among Tose's clients for the second year in a row. Atlus accounted for 22.3% of the company's total revenue.
Square Enix took second place with a share of 16.9%. This is a noticeable increase compared to the previous financial year, when the share of the Final Fantasy publisher was less than 10%.
Tose traditionally works with leading Japanese publishers (Nintendo, Square Enix, Bandai Namco, Capcom, and others), but rarely receives mention in the credits due to a strict confidentiality policy. Among the recently confirmed projects of the company are Dragon Quest I & II HD-2D Remake and Tales of Graces f Remastered.
