It has been officially confirmed that Nagoshi Studio—founded in 2021 by legendary game designer Toshihiro Nagoshi (creator of the *Like a Dragon* / *Yakuza* series)—has been liquidated following a decision by its shareholders. This information appeared in Japan’s official government gazette.
A key factor was the reduction in financial support from NetEase. Several warning signs emerged even before the official closure:
- NetEase planned to cut funding for the action game *Gang of Dragon*.
- References to the game began to disappear from the internet.
- Over the summer, the team deleted its YouTube channel—one of the first public indications that the studio was facing serious trouble.
- Without a stable budget, the studio could no longer continue operations, leading shareholders to decide on its liquidation.
The project, which had been announced for 2025, is now in limbo. It is highly unlikely that the game will ever see the light of day; without a studio or funding, completing development and reaching a release is virtually impossible.
What we know about *Gang of Dragon*:
- Genre: An action game featuring a crime drama, in the vein of Nagoshi’s best work.
- Protagonist: Shin Ji-sung, a high-ranking member of a Korean criminal syndicate based in Tokyo.
- Plot: The protagonist finds himself at the center of criminal conflicts and, through his relationships with a cast of vivid characters, begins to re-evaluate his own path.
- This was intended to be Nagoshi Studio’s debut project—but it now appears destined to remain a "ghost project," a symbol of ambitions that lacked the resources required for realization.
