Yakuza Creator Toshihiro Nagoshi’s Studio Dissolved After October 31 Vote

Nagoshi Studio, the company led by Yakuza creator Toshihiro Nagoshi, was dissolved by a shareholders’ resolution on October 31, according to a notice in Japan’s official gazette published on November 2. The notice records the company decision and names a representative liquidator. It does not announce what will happen to the studio’s unreleased game, GANG OF DRAGON.

What does the official notice confirm?

The announcement appears on page 176 of Extra No. 240 of the November 2 gazette. It identifies the company as 株式会社名越スタジオ and gives October 31, 2026 as the date of the shareholders’ resolution.

The notice also asks creditors to submit claims within two months from the day after publication and identifies a representative liquidator. It provides no explanation for the decision, no employee count and no information about individual projects. Those omissions matter when assessing headlines about the studio’s closure: the document records a corporate action, rather than a production update for a game.

Is GANG OF DRAGON cancelled?

The gazette notice does not establish the game’s fate. When checked on November 2, its Steam page remained accessible, listed Nagoshi Studio Inc. as both developer and publisher, and showed Coming soon rather than a release date.

That storefront status is not a guarantee that development will continue. Equally, the dissolution notice does not name the game, confirm its cancellation, identify a replacement developer or announce a transfer of rights. Those questions require a separate project announcement.

Steam describes GANG OF DRAGON as an action-adventure set in Shinjuku, Tokyo, including Kabukicho, with Ma Dong-seok playing Shin Ji-seong. The listing advertises third-person combat involving hand-to-hand attacks, blades, firearms and vehicles.

How was Nagoshi Studio introduced?

NetEase publicly announced the studio on January 24, 2022, naming Nagoshi as representative director and chief executive. The announcement described a wholly owned NetEase Games subsidiary focused on high-end console titles for an international audience.

The new gazette entry concerns that company. It does not announce a change to Sega’s Yakuza/Like a Dragon games. For another separately documented change involving a NetEase-backed developer, see our report on Grasshopper Manufacture’s return to independence.