Photoproduction of the neutral kaon on the deuteron has been investigated at the Research Center for Electron Photon Science, Tohoku University. We constructed the Neutral Kaon Spectrometer-2 for the detection of charged particles from the decay of the neutral kaon and the hyperon. We obtained a momentum distribution of K 0 with the inclusive measurement. It was consistent with the previous measurement. The total cross section of γ + d → K 0 + Λ + p was estimated from the measured integral cross section of γ + d → Λ + X. The total cross section with respect to the photon energy was compared with the theoretical calculations. It favored the Saclay-Lyon A model calculation with the ratio of the neutral to charged coupling constants of the axial-vector meson, K 1, as ~ -1.5. The energy dependence and the magnitude of the total cross section were similar to the total cross section of γ + p → K + Λ.