Japan’s Official Gazette (Kanpo) confirmed this morning that Nagoshi Studio, the NetEase-owned developer founded in 2022 by Yakuza creator Toshihiro Nagoshi, has officially dissolved. The notice stated that the studio was dissolved following a shareholder resolution on October 31, and neither NetEase nor Nagoshi has commented on the closure.
The future of Gang of Dragon, is also unclear. The game was revealed during The Game Awards 2025 and still listed as “Coming Soon” on Steam. However, there has been no official update on future development.
Rumors of trouble had been circulating for months. In March 2026, Bloomberg reported that NetEase pulled funding from the project following a reported development standstill. The studio’s social media accounts also went dark around February, and its official website and YouTube channel disappeared in May. Several staff departures were also reported.
With Nagoshi Studio now officially dissolved, the fate of Gang of Dragon remains uncertain. Neither NetEase nor Nagoshi has announced what will happen to the project.