Nagoshi Studio Officially Shuts Down After GANG OF DRAGON Funding Crisis

It’s official. After months of silence, Nagoshi Studio has officially dissolved following a shareholders’ resolution on October 31. The closure was confirmed in a notice published in Japan’s government gazette, Kanpo, on November 2.

Burned Too Bright

This all started when Nagoshi Studio announced GANG OF DRAGON at The Game Awards in December 2025. The upcoming action-adventure game looked like it could scratch that Yakuza itch, but with a new setting and Korean actor Ma Dong-seok (Don Lee) starring as its lead character.

In March 2026, Bloomberg reported that NetEase Games planned to cut funding for the studio in May. However, Nagoshi Studio reportedly had the option to continue independently if it could cover the costs of retaining the game’s assets and brand.

Around the same time, reports emerged of employees leaving the company, while the studio’s online presence gradually disappeared. Its official website became inaccessible, and its YouTube channel was deleted, adding to speculation that the studio was on its way out. Now, the official dissolution confirms those fears.

So, will we ever get to see GANG OF DRAGON? Sadly, things aren’t looking good.

According to Bloomberg’s March report, the project needed an additional ¥7 billion (around $44.4 million) to reach completion, prompting NetEase to pull its funding. With Nagoshi Studio now dissolved, the game’s future is even more uncertain.

That doesn’t necessarily mean GANG OF DRAGON is dead, but finding a new publisher willing to take on a project with such a massive funding gap won’t be easy. For now, we’ll have to wait and see whether Nagoshi’s ambitious new action game ever sees the light of day.