Nagoshi Studio’s Dissolution Leaves GANG OF DRAGON’s Future Unclear
Japan's Official Gazette confirms the closure decision was made October 31, with liquidation now underway.
Nagoshi Studio has been dissolved, leaving the future of its debut game, GANG OF DRAGON, unclear. A Japanese Official Gazette notice published November 2 records a shareholders’ resolution to dissolve the studio on October 31, 2026. Liquidation is underway, but the notice does not establish what will happen to the game.
Toshihiro Nagoshi founded the studio in 2021 after a 30-year career at Sega, where he served as chief creative officer and created the Yakuza series. Nagoshi Studio revealed GANG OF DRAGON at The Game Awards in 2025. Pitched as a melee-focused PS5 action-adventure, the game is set in Shinjuku, Tokyo. Ma Dong-seok stars as Shin Ji-seong, a high-ranking member of a Korean crime syndicate based in Kabukicho.
In March, Nagoshi Studio employees were told NetEase planned to stop funding the project. Bloomberg’s March report put the additional funding needed to finish the game at ¥7 billion ($44.4 million).
Nagoshi Studio’s closure comes amid NetEase’s retreat from international game development. T-Minus, FPC, and Bad Brain have closed, while NetEase has parted ways with Vancouver-based Worlds Untold and Seattle-based Jar of Sparks. Tokyo-based Ouka Studio, developer of Visions of Mana, closed in 2024. Grasshopper Manufacture and GPTRACK50, by contrast, have continued work on new games without NetEase funding.
What would you want to happen to GANG OF DRAGON after Nagoshi Studio’s closure? Follow us on X, Bluesky, YouTube, Instagram, Steam, and Telegram for updates on the game’s future and NetEase’s studio pullback.
Gang of Dragon
Developed by Nagoshi Studio
