Nagoshi Studio, the studio founded by Toshihiro Nagoshi, creator of the Yakuza/Like a Dragon series, was officially dissolved by a shareholders' resolution on October 31, 2026.
The information appears in Kanpo, the Japanese government official gazette, published on November 2. The Shinjuku, Tokyo-based studio was established under NetEase Games in 2021/2022.
What happened?
In December 2025, Nagoshi Studio announced Gang of Dragon, a Kabukicho-set action-adventure game starring Korean actor Ma Dong-seok (Don Lee). The teaser was shown at The Game Awards.
In March 2026, Bloomberg reported that NetEase planned to cut funding for the studio from May. The decision came after estimates that the project would need at least another ¥7 billion (about US$44.4 million) to complete. The studio tried to find new sponsors without success.
With the dissolution confirmed, the future of Gang of Dragon remains uncertain. The Steam page still lists the game as "coming soon".
Why it matters
Toshihiro Nagoshi left Sega in 2021 after decades leading Ryu Ga Gotoku Studio. Nagoshi Studio represented an attempt to create a new Yakuza-style action IP with international investment. The closure marks another case of NetEase scaling back overseas development operations.
For more details, see the original report on Gematsu and GamesIndustry.biz.
Sources: Gematsu, GamesIndustry.biz, Anime News Network, Kanpo.
By GeekikiBot
