Our Business

The MEDIA DO Group aspires to popularize written works through distribution in the form of eBooks and other digital content, to make the largest possible contribution to the growth of the entire publishing industry. For this reason, we are developing "eBook distribution business" that supports eBook distribution between more than 2,200 domestic publishers and over 150 eBook distributors, and "Strategic investment businesses" that promotes IP creation, industry revitalization, BX/SaaS expansion, and the creation of new content value.

Business Segment

eBook Distribution Business

  • Business Model
  • MEDIA DO’s Operating Environment
  • MEDIA DO’s Strengths

Business Model

MEDIA DO develops an eBook distribution business that connects more than 2,200 publishers and over 150 eBook retailers in Japan.

eBook Distribution Business Business Model

* Source: eBook Market Report 2022, Impress Research Institute. Actual results for FY2021 are shown.

Japanese publishing industry characterized by large number of publishers and eBook retailers. Smooth distribution facilitated by various processes being handled on behalf of publishers and retailers by MEDIA DO.
Specifically, simplification of complex business flow through elimination of need for contracts between individual publishers and retailers via MEDIA DO’s functions as an intermediary.

Business Flow without MEDIA DO
eBook Distribution Business
Business Flow with MEDIA DO
eBook Distribution Business
Principal Characteristic

1. Brokering of contracts/transactions with publishers
Expansion of content lineups of eBook retailers

2. Accurate distribution of revenues to publishers and creators
Aggregation of monthly sales data of eBook retailers

3. Operation of eBook distribution system
Distribution of content to eBook retailers on behalf of publishers

4. Promotional campaigns
Discounts, free offerings, and other promotions provided through collaboration with publishers and eBook retailers

(Reference) Differences between U.S. and Japanese Publishing Industries
 ー Differences Creating Need for eBook Wholesalers


1. Industry environment

  • Oligopoly situation in U.S. publishing market created by existence of only five major publishers and large market share of 状況 Kindle among eBook retailers, eliminating the necessity of complicated procedures that produce a need for wholesalers and creating an environment conducive to direct transactions
  • Large presence of small, independent publishers in Japanese market when compared to U.S. market, creating a need for wholesalers as it is difficult for such publishers to handle all paper book and eBook distribution processes on their own

2. Frameworks

  • Books purchased directly from publishers by retailers in U.S. market (no returns)
  • Paper book transactions by publishers, wholesalers, and retailers in Japanese market made based on consignment system allowing for retailers to return unsold books and thereby procure books without assuming inventory risks
  • Need for frameworks for managing diverse transactions and small localized campaigns arising due to the fact that most eBook sales are performed through eBook retailers

Need for wholesalers by both publishers and retailers in Japan due to large number of industry players and complicated nature of procedures

MEDIA DO’s Operating Environment

Ongoing downward trend in Japanese publishing market halted by emergence of eBooks leading to start of upward trend in 2019
  • Ongoing downward trend seen in Japanese publishing market after a peak of ¥2.6 trillion in 1996; decline halted in 2018 and reversed in 2019
  • Continuous growth of Japanese publishing market resulting in thrid consecutive year of positive growth (combined growth of paper books and eBooks) in 2021
Scale of Japanese Publishing Market(Billions of yen)

Source: All-Japan Magazine and Book Publishers and Editors Association (AJPEA)

Pace of Japanese eBook market growth directly linked to upward trend and increased eBook distribution directly linked to invigoration of publishing market
  • Japanese eBook market scale of ¥607.9 billion seen in FY2022, upward trend projected to continue going forward
  • Recent digital comics (trade paperback) market growth surpassing paper comics market growth due to benefits of being purchasable anytime, anywhere while digital exposure generates catalog effect slowing decline in sales of paper comics
Scale of eBook Market (Billions of yen)

Source: eBook Market Report 2022, Impress Research Institute

Scale of Comics Market (Trade Paperbacks) (Billions of yen)

Source: Annual publishing statistics, All-Japan Magazine and Book Publishers and Editors Association (AJPEA)
Note: Figures for paper comics represent trade paperbacks only and exclude sales of comics magazines.

Scale of Japanese Publishing Market by Segment in 2021 (Billions of yen)
  • Comics market expanding favorably with 12.8% year-on-year growth
  • Significant room for growth of non-graphic eBooks in Japan as 6.4% share is substantially lower than shares of 30–40% in the United States and China

Source: All-Japan Magazine and Book Publishers and Editors Association (AJPEA)
Note: AJPEA statistics classify 90% of comics in the "magazine" category. In the graphs above, comics classified as magazines in this way are counted as "comics". The scale figure for "comics" includes only comics (digital and paper) counted in this manner. Comics magazines are counted as "magazines".

MEDIA DO’s Strengths

The MEDIA DO Group’s core eBook distribution business has a rare position in the publishing industry as a wholesaler. By capitalizing on this position and on the expertise and cutting-edge technologies amassed thus far, we can provide comprehensive distribution support.


・Core distribution functions

・Dominating share

・Global presence

・Industry support

  • Gross transaction value (No. 2 in the world) Approx. ¥190.0 billion
  • Total managed eBook distributor campaigns (FY2021) more than 16,000. Number of content items distributed through campaigns (FY2021) more than 1.5 million
  • Domestic eBook distribution market share*1 36%. Unrivaled position as an intermediary between more than 2,200 publishers and over 150 eBook distributors
  • Ability to conduct transactions with more than 99% of Japanese publishers offering eBooks
  • Only Asian company to dispatch an employee to serve as co-chair of the Publishing Business Group of the World Wide Web Consortium (W3C)*2. Appointment of the first W3C evangelist from Japan

・Exceptional development capabilities

・One-stop service for system and data management and other services

  • Engineer team Approx. 150 members*3
  • In-house development of all core systems. Ranging from eBook distribution platforms to NFT management systems using blockchain technology
  • Amount of content supplied through eBook distribution system More than 900 million files per month
  • Launch of Japan’s first product using Flow blockchain, which boasts the highest number of user-to-user NFT transactions*4
  • Release of Japan’s first 3D and augmented reality (AR) functions for an NFT marketplace viewer er app (February 2022)

*1 Calculated by dividing our gross transaction value in FY2022 by the total transaction value in the market as a whole
*2 Organization promoting international standardization of internet technologies
*3 Represents 30% of total employee base
*4 Source: Blockchains by NFT Sales Volume (All-time), CryptoSlam!

Pursuit of market growth by leveraging strengths to streamline industry operations and transform business models

Strategic investment businesses

The following is a list of each Applicable Group Companies/Services provided in Strategic investment businesses.
Click on each logo to view details. Click to show or hide all.

IP Acquisition/

Imprint Business

Applicable Group Companies/Services

Publication and sale of how-to books, comics, novels, and magazines in both physical and digital formats

Development of imprint nextgeneration publishing business and operation of girl’s comics label

Novel submission website operation and image production business

Comic coloring and picture production support

Planning/Publishing (Support)

IP & Solutions Business

Applicable Group Companies/Services

YUZU comics
New label exclusively for VSC

(Joint venture with Impress Holdings) Expansion of the print on demand market through integration of corporate and private print on demand services

eBook sales management and integrated royalty management system for paper books and eBooks

Flier Inc.
Operation of the flier book summary service

Overseas operations

Global Business

Applicable Group Companies/Services

Media Do International, Inc.
The MEDIA DO Group’s global business base in San Diego

Quality Solutions, Inc. /
Firebrand Technologies

Deployment of bibliographical sinformation management, information distribution, and eBook distribution services in the United States

NetGalley, LLC
Provision of NetGalley online book marketing tool

Supadü Limited
Supply of publisher sales websites on an SaaS basis to customers including major U.S. publishers


FanTop Business

Applicable Group Companies/Services

NFT marketplace developed by MEDIA DO