Nagoshi Studio Dissolved, Leaving Gang of Dragon's Future Very Unlikely
With the studio liquidating its assets, the Yakuza-style action game has lost its developer and its funding backer.
Nagoshi Studio, the company founded by former Sega veteran Toshihiro Nagoshi, has been officially dissolved after a notice in Japan's government gazette Kanpo confirmed its closure as of October 31. The studio had been developing Gang of Dragon, a cinematic action game first revealed at the 2025 Game Awards, but backer NetEase reportedly withdrew funding and the project still needed roughly $44 million to finish. With the company now liquidating its assets and settling liabilities, the game's future looks very unlikely, though its Steam store page remains live.
Why it matters
For players, the news means a game first shown at the 2025 Game Awards is unlikely to ship, with no replacement studio named. For the wider industry, it shows how a project can end when a backer pulls funding and the developer is closed, even with a store page still live. The reported $44 million still needed to finish the game underlines how large the gap was when funding stopped.
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