# The Legend of Heroes: Kuro no Kiseki Ⅱ -CRIMSON SiN-	

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

- Steam appid: 2113920
- Developer: Nihon Falcom
- Publisher: Clouded Leopard Entertainment
- Released: 2023 · Genre: RPG · List price: $59.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $2.6k to $3.9k per month (mid $3.2k)
- Opportunity score: $6.2k/month at x1.90 dormancy multiplier
- Est. lifetime owners: 25.0k · Est. lifetime net revenue: $373.8k
- Review sentiment: 76% positive across 1002 reviews (781 from Steam purchases)
- Review velocity: 8.7 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 3.5 years
- Studio active elsewhere (45 titles tracked), so this one may welcome a partner
- Last build shipped 22 months ago
- Store page localized in only 2 language(s)

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $5.9k |
| After VAT / sales tax (-13% blended) | $5.1k |
| After refunds (-9.5% median) | $4.6k |
| Net to developer (after Steam 30%) | $3.2k |

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

17, 3, 9, 5, 8, 19, 16, 14, 16, 17, 10, 8, 9, 16, 15, 8, 6, 14, 13, 7, 7, 8, 10, 7

## Estimated acquisition range

$77.8k to $155.6k (2-4x the trailing net annuity of $38.9k/year). Same error range applies.

## Markets by review language

- russian: 0% (game NOT localized in this language)
- japanese: 1% (game NOT localized in this language)
- schinese: 73% (game NOT localized in this language)
- french: 0% (game NOT localized in this language)
- german: 0% (game NOT localized in this language)
- english: 15% (game NOT localized in this language)
- koreana: 10%

Localization gap: 90% of measured reviews are written in languages the game does not support (top: schinese). Localizing is likely immediate market expansion.

## Analyst notes (AI-assisted)

The Legend of Heroes: Kuro no Kiseki II is a 2023 JRPG sequel from Nihon Falcom featuring a 100+ hour narrative-driven campaign set in the Trails franchise universe.

Kuro II remains dormant despite strong critical reception (76% positive) and a loyal Asian player base that generates $3,240/mo in residual revenue. The title is severely undermonetized: only 22% of sales flow through legitimate Steam channels, 90% localization gap in Simplified Chinese (461 reviews), and zero discount activity in 21 months suggest missed regional pricing and bundling opportunities. For a publisher with Asian distribution muscle, this represents a straightforward catalog play to unlock Chinese revenue and coordinate a Trails franchise revival.

- Most realistic play: publishing
- Risk (market): Series is primarily consumed in Japan and Korea; English-language audience is niche despite high review quality.
- Risk (tech): 21 months since last build update; potential engine or platform compatibility drift on newer OS versions.
- Risk (other): Clouded Leopard Entertainment (current publisher) retains publishing rights; acquisition requires title transfer or new regional partition deal.

What players are asking for:
- Chinese localization (461 SC reviews vs. 2 English; 90% gap indicates demand exceeds supply)
- Trails I connectivity features and cross-game progression
- Performance optimization and controller input parity

Suggested first moves:
1. Audit current publishing agreement with Clouded Leopard; identify rights to apply regional pricing tier and enable Steam keys in Greater China.
2. Commission Chinese localization (budget ~$120k–$180k for 100+ hour title); measure payback against $3,240/mo baseline and 461-review demand signal.
3. Bundle Kuro I + II and catalogue other Trails titles under a franchise subscription or seasonal sale; cross-promote with Falcom's Ys and Trails back catalog to rebuild English-language visibility.

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/2113920
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.