Nagoshi Studio officially dissolved as of October 31, according to Japanese government gazette

Nagoshi Studio, founded by Like a Dragon series creator Toshihiro Nagoshi, has officially dissolved following a general shareholder meeting on October 31. This was reported in the Japanese government’s Official Gazette, published on November 2.

Nagoshi Studio was established in 2022 under the wing of Chinese tech giant NetEase Games, following Nagoshi’s departure from SEGA and RGG Studio. Three years later, during the Game Awards 2025, the studio revealed the first trailer for its debut title Gang of Dragon – a high-end cinematic action adventure.

However, in March 2026, Bloomberg reported that NetEase would pull Nagoshi Studio’s funding altogether, following a development standstill that left the ambitious studio in need of an additional $44.4 million in funding to complete the project. Just one month prior to the announcement, Nagoshi Studio’s official social media accounts ceased updates. Then, in May, Nagoshi Studio’s official website became inaccessible, with its YouTube channel deleted, leading fans to speculate that the studio may be facing closure in the near future. Several key members of Nagoshi Studio’s development team also announced their departures in the following months, further supporting the theory.

With these speculations now confirmed by official sources, it is uncertain what will happen with Gang of Dragon, which is still listed as “coming soon” on Steam, now that the studio has dissolved.

Related: Gang of Dragon creator Toshihiro Nagoshi appears without “Nagoshi Studio” affiliation in Famitsu feature following reported NetEase funding withdrawal