Nagoshi Studio closes after shareholders approve dissolution
Toshihiro Nagoshi's studio announced its first game, Gang of Dragon, in December 2025.
Nagoshi Studio Inc., founded by Yakuza/Like A Dragon creator Toshihiro Nagoshi, has been officially dissolved. NetEase had previously confirmed plans to stop financing the studio.
The Japanese government's Kanpo gazette recorded the dissolution in its November 2 issue, following a stockholders meeting held on October 31.
NetEase Games announced the establishment of Nagoshi Studio Inc. in January 2022. The studio later revealed its debut game, Gang of Dragon, at The Game Awards in December 2025.
In March 2026, Bloomberg reported that a NetEase spokesperson had confirmed the company would stop financing the studio. According to the report, NetEase reached that decision after learning that the game needed another 7 billion yen (approximately US$44 million) to reach completion.
In June, producer Daisuke Satō updated his social media accounts to identify himself as an "ex-Nagoshi Studio" employee.
Nagoshi had worked at Sega since 1989. He relinquished his position as chief creative officer in April 2021 but stayed on as creative director before leaving the company in October 2021.
Bloomberg also reported in September 2024 that NetEase had laid off most employees at Tokyo-based Ouka Studios, the studio behind Visions of Mana, and planned to close its Shibuya offices. Ouka closed in late 2024.
NetEase had recruited former employees from companies including CAPCOM, Bandai Namco, and Square Enix while establishing console-focused teams at Ouka in Shibuya in 2020. Visions of Mana developer Ryosuke Yoshida subsequently joined Square Enix in December 2024.
Source: Kanpo
