Nagoshi Studio dissolves, leaving Gang of Dragon in limbo

Nagoshi Studio, the Tokyo-based developer founded by Yakuza creator Toshihiro Nagoshi, was dissolved by a shareholders’ resolution on Oct. 31. The notice was published in Kanpo, Japan’s official government gazette, on Nov. 2.

A March 2026 report said NetEase Games planned to stop funding the studio in May. Nagoshi Studio reportedly had the option to become independent if it could cover the costs of leaving NetEase’s ownership structure. The dissolution notice indicates that the studio did not continue in its current form.

Neither NetEase Games nor Nagoshi had publicly commented on the closure as of Nov. 2.

Gang of Dragon is Nagoshi Studio’s only announced game. The action-adventure was announced for PC in December 2025 and is set in Kabukicho, Shinjuku’s nightlife district. The location inspired Kamurocho in the Yakuza series.

The game stars South Korean actor Ma Dong-seok, also known as Don Lee, as Shin Ji-seong, a senior member of a Korean crime syndicate based in Kabukicho. It was designed as a third-person action game with hand-to-hand combat, bladed weapons, firearms and vehicle sequences. Shin’s physical strength is central to the combat system.

No announcement has confirmed whether Gang of Dragon has been canceled or whether development will continue with another publisher or company. The game’s Steam page remains online with a “Coming Soon” release status. No release date or further development update has been provided.