Nagoshi Studio officially shuts down
Nagoshi Studio, founded by Yakuza [70 articles] creator Toshiro Nagoshi, has officially ceased operations. Following a shareholders' resolution, the Tokyo-based studio was dissolved on October 31, according to a notice published in the Japanese government gazette Kanpo.
Established in November 2021 in Shinjuku, Tokyo, the studio operated under the umbrella of NetEase Games. However, its tenure has come to an end, with the official dissolution confirmed via the Japanese government's official records.
The shutdown leaves the fate of GANG OF DRAGON in limbo. Announced in December 2025, the action-adventure game is set in Kabukicho and features Korean actor Ma Dong-seok (Don Lee) in the lead role. It remains unclear whether the project will continue under a different entity.
The studio's decline follows reports of financial restructuring within its parent company. In March 2026, Bloomberg reported that NetEase Games intended to cut funding to the studio starting in May, offering the developers a path to independence if they could secure their own financing.
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