Nagoshi Studio, founded by Yakuza creator Toshihiro Nagoshi, has been shut down. According to a notice published in the Japanese government gazette Kanpo (via Gematsu), the company was formally dissolved by a shareholders' resolution on October 31.

Nagoshi Studio was a Tokyo-based company helmed by Toshihiro Nagoshi, the former chief creative officer at Sega. Nagoshi left Sega in 2021 and soon started the Studio, which became a subsidiary of NetEase. In 2022, he said that he wanted to make games around human drama.

Nagoshi Studio revealed its first game, an action-adventure titled Gang of Dragon set in Tokyo and featuring Korean actor Ma Dong-seok (Don Lee), at the 2025 Game Awards. Based on what was shown, the game was reminiscent of Yakuza, and series fans would likely enjoy it. The developer revealed that the game would "include violence as a game element," but the studio will not make it the main focus. According to him, the game will not be a horror or a thriller. Instead, it was inspired by the works of Quentin Tarantino and would take a similar approach to humor, alternating comedy with serious topics.

In March 2026, NetEase, which helped establish Nagoshi Studio and promised its support, planned to end funding in May. Nagoshi reportedly needed at least $44.4 million more to finish the game and tried to find a new sponsor without success. A few months later, NetEase pulled the funding. Two months later, in May, the studio's website went offline.

Nagoshi Studio has not made an official statement about its closure or Gang of Dragon's future. The game's Steam page remains online at the time of writing.

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