Nagoshi Studio, the development house founded by acclaimed game director Toshihiro Nagoshi, has officially ceased operations. A dissolution notice published in Japan’s official gazette (Extra No. 240) on November 2, 2026, confirms the studio’s closure, a move that was decided upon during a shareholders’ meeting held on October 31, 2026.
The notice, dated November 2, 2026, and filed from the studio’s Tokyo address, formally announced the dissolution. It also included a directive for any creditors of the company to submit their claims within two months from the publication date of the notice, or risk being excluded from the liquidation process.
Dissolution Notice
Our company was dissolved by resolution of the general meeting of shareholders held on October 31, 2026. To our creditors, please submit your claims to our company within two months from the date of this notice. If claims are not submitted within the aforementioned period, you will be legally excluded from the liquidation proceedings.
Nagoshi Studio was established by Toshihiro Nagoshi, best known for his pivotal role in the creation of Sega’s popular Yakuza (Ryu Ga Gotoku) series. Following his departure from Sega, Nagoshi founded his own studio to pursue new creative endeavors.
In late 2025, the studio announced its first new project, Gang of Dragon. This game was slated to feature actor Ma Dong-seok as a Korean mob boss, aiming to continue the distinctive style and narrative flair that fans of Nagoshi’s previous work have come to expect.
However, the studio’s trajectory shifted significantly earlier this year. In March, reports emerged that NetEase, a major Chinese gaming company, had ceased funding for Nagoshi Studio. A spokesperson for NetEase subsequently confirmed that the company would stop its financial support starting in May.
Following these developments, a series of closures and access issues plagued the studio’s online presence. The official Nagoshi Studio YouTube channel was taken down, the trailer for its upcoming game was removed from online platforms, and the studio’s official website became inaccessible. These events signaled a period of significant uncertainty for the company.
Further compounding these issues, VGC journalist Andy Robinson revealed in October that Nagoshi Studio was effectively defunct. Rumors even began circulating that Toshihiro Nagoshi himself was actively seeking employment with other development studios, suggesting a search for new opportunities in the industry.
The formal dissolution notice now confirms the end of Nagoshi Studio, marking a poignant chapter in the career of Toshihiro Nagoshi and leaving fans to wonder about the future direction of the veteran game developer.
