# Togainu no Chi ~Lost Blood~

> ResidualPlay case file: an overlooked Steam game still earning residual revenue. Estimates carry a ±30-50% error range per title.

- Steam appid: 1174400
- Developer: Nitro+CHiRAL
- Publisher: JAST
- Released: 2020 · Genre: Adventure · List price: $19.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $2.8k to $4.2k per month (mid $3.5k)
- Opportunity score: $9.1k/month at x2.60 dormancy multiplier
- Est. lifetime owners: 23.0k · Est. lifetime net revenue: $98.9k
- Review sentiment: 97% positive across 818 reviews (767 from Steam purchases)
- Review velocity: 32.5 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 3.5 years
- Studio quiet across its whole catalog
- Last build shipped 6.9 years ago
- Store page localized in only 1 language(s)
- No Steam discount in 4.0 years (deepest tracked: -0%)

## Where a gross dollar goes (monthly, at current velocity)

| Stage | USD/month |
|---|---|
| Gross storefront sales | $6.3k |
| After VAT / sales tax (-13% blended) | $5.5k |
| After refunds (-9.5% median) | $5.0k |
| Net to developer (after Steam 30%) | $3.5k |

## Monthly review counts, oldest to newest (24 months)

5, 3, 6, 7, 7, 9, 12, 33, 17, 8, 15, 22, 14, 12, 28, 8, 21, 37, 35, 34, 22, 34, 22, 48

## Missed seasonal-sale revenue (modeled)

Skipped 12 Steam seasonal sale window(s) in the last 24 months. Running a -50% discount in those windows is modeled at +$14.1k net in total, assuming a unit uplift of x3.0 (industry-typical for old catalog titles). Same ±30-50% error range applies.

## Estimated acquisition range

$83.8k to $167.6k (2-4x the trailing net annuity of $41.9k/year). Same error range applies.

## Analyst notes (AI-assisted)

A dark BL visual novel about street violence and redemption in a dystopian Japanese setting, published by JAST in 2020.

Togainu no Chi maintains strong community engagement (96.8% positive, 32.5 reviews/mo) and generates $3.5k/mo residual revenue despite zero marketing activity in 42 months. The title's niche audience (gay-forward adult VN, horror worldbuilding) is durable and underserved on Steam. Realistic path is publishing support or localization expansion rather than acquisition, given JAST's established relationship and Nitro+CHiRAL's catalog value.

- Most realistic play: publishing
- Risk (market): Visual novel genre on Steam is crowded and fragmented; sustained sales depend on community curation and fandom reach, both of which are limited outside East Asia.
- Risk (other): Developer Nitro+CHiRAL shows fading studio status with only 3 titles and no posts in 3.5 years; unclear if additional ports, translations or spin-offs are feasible.

What players are asking for:
- Console ports (Switch, PlayStation mentioned in similar VN communities)
- Additional language localizations beyond English
- Official art books or soundtrack releases
- Sequel or spin-off content from the same universe

Suggested first moves:
1. Audit JAST's publishing agreement with Nitro+CHiRAL to clarify translation rights, console localization scope and marketing obligations; determine if dormancy reflects contractual boundaries.
2. Commission a cost-benefit analysis of console port (Switch minimum viable product) given $98.9k lifetime revenue and $3.5k/mo current run rate; BL/yaoi titles show strong handheld adoption in Japan.
3. Conduct regional sales forensics: isolate Steam North America, Europe and Japan revenue to identify highest-value language localization targets and test community appetite for secondary languages.

Generated 2026-08-20 from public signals and player reviews. Directional, not diligence.

## Methodology

Units are estimated from Steam-purchase reviews times a release-cohort multiplier (Boxleiter method, 20-75x by year). Revenue uses an effective price (lifetime discounts and regional pricing) and nets out VAT (~13%), refunds (~9.5%) and Steam's 30% cut: roughly 55% of gross reaches the developer.

Source: https://residualplay.com/game/1174400
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.