[Tokyo (Japan) = E-Daily Reporter An Yu-ri ] NC (NCsoftCorporation(036570)) is diversifying its IP (intellectual property) lineup beyond its reputation as a leading MMORPG (massively multiplayer online role-playing game) developer to include anime-style (subculture) games. Following its expansion of sales in Western markets with casual mobile games in the first half of the year, the company plans to target the Japanese market with subculture IP tailored specifically for that region.

Following last year’s participation, NC once again attended the Tokyo Game Show, held from the 17th to the 21st at Makuhari Messe in Chiba, Japan. The title showcased this year is “Astrae Oratio” (hereinafter referred to as “Asora”), developed by Dynamis One.

“Astrae Oratio” is a “supernatural magic RPG” set in a fictional 1989 Tokyo where reality and magic coexist. The “Shin-denki” genre is characterized by combining supernatural elements—such as magic and urban legends—with everyday settings. In “Asura,” players take on the role of a “Chief”—a civil servant at the “Special District Office,” the agency responsible for managing magicians—and encounter various characters and events throughout the city. The game is scheduled for release on mobile platforms in 2027.

After actually playing a demo build, it became clear that *Astrae Oratio* is a specialized IP tailored for fans of anime-style (subculture) games, with the Japanese market firmly in mind. Rather than simply feeling like I was playing a game, the combination of character art, Japanese voice acting, and narrative direction made it feel as though I had stepped into the world of a Japanese anime. The art style also faithfully recreates the lyrical aesthetic of 1990s anime.

Kim In, Art Director (AD) of *Astra e Oratio*, emphasized during a media briefing held at the Tokyo Game Show, “We did not use artificial intelligence (AI) at all in the character art.”

Lim Jong-kyu, Development Director for Astrae Oratio, explained why the Korean development team chose Tokyo, Japan, as the setting for the game: “When discussing the mecha genre, Tokyo is indispensable, so we chose it.”

He added, “The main story features Japanese voice acting for all dialogue,” and noted, “Since we’re targeting all customers who enjoy 1990s-style anime-inspired games—including those in Korea, Japan, and the U.S.—we plan to launch simultaneously worldwide in those regions.”

Art Director Kim elaborated, “Over the past decade or so, the visual trends in subculture have been dominated by isekai and post-apocalyptic genres, but I believe the market has now reached a certain level of saturation.”

The *Astrae Oratorio* booth at the Tokyo Game Show faithfully recreated the game’s world through a Tokyo Tower and cherry blossom theme—which actually serve as the game’s key visuals. A representative from Dynamis One explained, “We had to obtain direct approval from the Tokyo Tower authorities to produce the model,” adding, “We received their approval, and this is the largest Tokyo Tower model ever created.”

Moving Beyond the “Lineage One-Tool” Model, NCSoft Diversifies Its IP Portfolio Through M&A and Publishing

NC has identified “discovery of new IP” as one of its three major growth strategies and is accelerating its genre expansion, focusing on subculture and shooting games. Amid this diversification, NC recorded its highest-ever quarterly revenue from overseas markets in the second quarter, totaling 400.7 billion won. In line with this trend, the share of overseas revenue—which stood at 42% in the first quarter—rose to 52% in the second quarter, surpassing domestic revenue.

The strategy for “Asora” is to expand the IP across various media, not limiting it to games alone. Art Director (AD) Kim In stated, “We believe that having a clear visual identity for the protagonist will facilitate future expansion into various media beyond games, which is why we decided to unveil the character’s visuals at this year’s Tokyo Game Show.”

NC believes the subculture market can serve as a new revenue source through IP diversification. According to Osikatsu Soken, a subculture research firm, the size of Japan’s subculture game market in 2024 is expected to reach 3.5 trillion yen (approximately 33 trillion won). According to data compiled by market research firm Sensor Tower, six subculture games ranked among the top 10 in Japan’s mobile game revenue from February 2024 to January 2025.