Nagoshi Studio officially shuts down and Gang of Dragon canned

After reporting of trouble earlier this year, Nagoshi Studio has officially been shut down after a shareholder vote on 31st October, ending development of Gang of Dragon. The news comes via the Japanese government gazetta Kanpo.

The team founded by Toshihiro Nagoshi, former director of Ryu Ga Gotoko Studio, had been set up under NetEase’s umbrella in its efforts to create a new contender and evolution for the Yakuza/Like a Dragon series. Gang of Dragon was announced in December 2025 at The Game Awards, starring Ma Dong-seok (AKA Don Lee).

Since then, the studio had been under radio silence, but reporting emerged of financial issues. As big as NetEase is, the company apparently balked at the need for an additional $44 million in funding to finish the game. They reportedly pulled funding back in March.

Things seriously unravelled in this summer, when the YouTube channel for the studio disappeared along with the official website, studio co-head, Daisuke Sato, set his bio to “Ex-Nagoshi Studios” and the Google Business listing for the studio, which is based in Tokyo Ebisu district, marked it as “Permanently closed”.

Now, some six months later, it’s even more certain that things have ended, though it is odd that it hasn’t been accompanied by some kind of social media post or statement, just leaving things to fade into the aether.

Source: Kanpo

Tags: Gang of Dragon, Like a Dragon, Ryu Ga Gotoku, Yakuza