Nagoshi Studio, From The Creator Of The Yakuza Series, Officially Shuts Down

Nagoshi Studio, founded by Yakuza series creator Toshihiro Nagoshi, officially dissolved on October 31 via a shareholders meeting, as announced in the Japanese government gazette Kanpo. The closure comes less than a year after the studio revealed its debut title, Gang of Dragon, whose first trailer dropped in December 2025. The game, set in Tokyo's Kabukicho district and starring new protagonist Shin Ji-Seong, was positioned as a more serious evolution of the Yakuza formula. According to Bloomberg, backer NetEase pulled its funding, leaving the project short of the more than $44 million it reportedly needed to reach completion. The studio will now liquidate assets and settle liabilities, leaving the fate of Gang of Dragon uncertain. Investors and industry watchers should monitor whether the game's Steam page and any remaining intellectual property are acquired or revived by another publisher.