We report the development of a 4-color simultaneous camera for the 1.52 m Telescopio Carlos Sánchez (TCS) in the Teide Observatory, Canaries, Spain. The new instrument, named MuSCAT2, has a capability of 4-color simultaneous imaging in g (400-550 nm), r (550-700 nm), i (700-820 nm), and z s (820-920 nm) bands. MuSCAT2 equips four 1024×1024 pixel CCDs, having a field of view of 7.4×7.4 arcmin 2 with a pixel scale of 0.44 arcsec per pixel. The principal purpose of MuSCAT2 is to perform high-precision multi-color exoplanet transit photometry. We have demonstrated photometric precisions of 0.057%, 0.050%, 0.060%, and 0.076% as root-mean-square residuals of 60 s binning in g, r, i and z s bands, respectively, for a G0 V star WASP-12 (V = 11.57 ± 0.16). MuSCAT2 has started science operations since January 2018, with over 250 telescope nights per year. MuSCAT2 is expected to become a reference tool for exoplanet transit observations, and will substantially contribute to the follow-up of the TESS and PLATO space missions.