Nagoshi Studio, the development team founded by former Yakuza series boss Toshirio Nagoshi, has officially closed its doors despite not having shipped a single game.
The news comes via a list of company dissolutions from Japan’s Official Gazette Kanpo today, which listed Nagoshi Studio among the companies that had been shuttered.
The developer announced its debut project, Gang of Dragon, during The Game Awards 2025 in December last year. However, a few months later it was reported that NetEase has pulled its funding for the project, after being informed that Gang of Dragon would have required an additional seven billion yen to complete. Following this, the studio removed its YouTube account, and it wasn’t long before rumours started to gather pace that the developer had quietly shut its doors.
Gang of Dragon was set to take place in Kabukicho, the nightlife district of Shinjuku, Tokyo. Players would have followed Shin Ji-seong, portrayed by Ma Dong-seok, who is a high-ranking member of a Korean crime syndicate operating in Kabukicho. He soon becomes embroiled in an underworld conflict where he forges intense, human connections that force him to confront his own sense of purpose.