Nagoshi Studio, founded by Yakuza creator, officially shuts down

Studio Closure Confirmed

Nagoshi Studio, established by Toshihiro Nagoshi, known for the Yakuza series, has officially ceased operations. The studio's dissolution was announced in the Japan government's official gazette Kanpo, stating the company was dissolved on October 31 during a shareholders meeting. This closure occurs less than a year after the studio announced its first title, "Gang of Dragon."

Uncertain Future for "Gang of Dragon"

The studio had been developing "Gang of Dragon," a game that aimed to evolve the organized crime genre, featuring a new protagonist, Shin Ji-Seong, in Tokyo's Kabuchiko district. A trailer for the game was released in December 2025. However, the game's future is now in doubt following the studio's closure.

Funding Withdrawal Led to Closure

According to a Bloomberg report, NetEase, one of the game's backers, withdrew its funding from Nagoshi Studio. "Gang of Dragon" reportedly still required more than $44 million to reach completion, and the studio was seeking additional financial support. The withdrawal of this funding appears to have been a contributing factor to the studio's shutdown.

Liquidation Process Begins

With the official shutdown, Nagoshi Studio will now proceed with liquidating its assets and settling liabilities, as detailed in its notice published in Kanpo. While the game's Steam store page remains active, the likelihood of "Gang of Dragon" progressing out of development is low.