Abstract
In this paper, the curvature perturbation generated by the modulated curvaton decay is studied by a direct application of δN-formalism. Our method has a sharp contrast with the non-linear formalism which may be regarded as an indirect usage of δN-formalism. We first show that our method can readily reproduce results in previous works of modulation of curvaton. Then we move on to calculate the case where the curvaton mass (and hence also the decay rate) is modulated. The method can be applied to the calculation of the modulation in the freezeout model, in which the heavy species are considered instead of the curvaton. Our method explains curvaton and various modulation on an equal footing.