Nagoshi Studio has been officially dissolved in accordance with the resolution of the shareholders' meeting held on October 31, 2026, with Minoru Morinaga appointed as the representative liquidator. The studio's previously announced action-adventure game "Dragon Gang" has not had its project ownership clarified, and whether it will be transferred or canceled remains to be confirmed by the rights holders.
The notice published in the Japanese Official Gazette on November 2 requires company creditors to declare their claims within two months from the day following the announcement. Nagoshi Studio will next organize its claims and debts, and terminate its corporate status after completing the liquidation registration.
As of October 5, registration records still showed the company as active, with the dissolution not yet registered. However, directors including Toshihiro Nagoshi had all resigned as of March 31, 2026. Minoru Morinaga was reappointed as a director and representative director on May 31, being the only director registered at the time, and has now transitioned to handling the liquidation.
Nagoshi Studio was established in January 2022, fully funded by NetEase Games, with the original plan to develop high-specification, console-centric titles for a global audience. The studio unveiled "Dragon Gang," starring Ma Dong-seok, at The Game Awards in late 2025, followed by signs such as the cessation of financial support, the website becoming inaccessible, and the departure of numerous employees.
As of the release of the relevant news, the Steam store page for "Dragon Gang" was still accessible, with its release status still showing "Coming Soon." The dissolution announcement did not specify who would hold the project, nor did it confirm whether the game would be transferred or canceled.