The studio plans to liquidate its assets and settle its liabilities after shareholders approved its dissolution. The future of its intended debut, Gang of Dragon, remains unresolved.
Tokyo-based Nagoshi Studio dissolved by shareholders’ resolution on 31 October 2026, before releasing a game. The decision appeared in the 2 November 2026 edition of Japan’s official gazette, Kanpo.
Yakuza series creator Toshihiro Nagoshi formed the studio in 2022 with NetEase investment, after leaving Ryu Ga Gotoku Studio in 2021. Its intended debut was Gang of Dragon, a cinematic action-adventure game whose first trailer appeared in December 2025.
Bloomberg said NetEase decided to withdraw funding after learning that Gang of Dragon needed at least another ¥7 billion (about $44.4 million) to be completed, as relayed by IGN.
A PC Gamer article in March 2026, citing Bloomberg, said NetEase had decided to end funding in May 2026. The studio had sought replacement funding without success at that time. Bloomberg also said NetEase would require the studio to buy out the game’s assets or brand if it wanted to retain them and continue development.
Gang of Dragon’s Steam listing still says “coming soon,” but the game’s future remains uncertain following the dissolution.
The studio’s next step is to liquidate its assets and settle its liabilities, Engadget said, citing the notice published in Kanpo.
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