Nagoshi Studio, the NetEase-backed studio founded by Yakuza creator Toshihiro Nagoshi, is effectively "gone," according to VGC's Andy Robinson speaking on the outlet's latest podcast episode. Robinson said the closure has not been formally announced, but that he heard Nagoshi himself had recently been applying to other studios — a sign, in his words, that "it's fair to say that that's gone." The timing stings for fans: Gang of Dragon was announced at The Game Awards in December 2025, starring Train to Busan actor Ma Dong-seok as Shin Ji-seong, a Korean crime-syndicate member with little of the Yakuza series' reluctance to kill. Neither NetEase Games nor Nagoshi has confirmed anything, leaving the project in limbo.

The circumstantial signs are stark. Nagoshi Studio's YouTube channel has been removed and its Gang of Dragon trailer disappeared along with it, while the studio's official website has gone offline. iXBT.games notes the company itself has said nothing about its situation for roughly ten months, amplifying the sense that the lights went out long ago. That combination — vanished web presence, a silent company, and a journalist reporting the founder is job-hunting — is what makes Robinson's account so credible to the gaming community, even without an official statement from NetEase.

The biggest open question is the fate of Gang of Dragon itself. With an estimated $44.4 million reportedly still needed and no sponsor forthcoming, iXBT.games reports development is likely halted, and it remains unclear whether NetEase will do anything with the property or let it languish incomplete. Until NetEase or Nagoshi speaks, everything — the game, the studio, even Nagoshi's next move — remains unconfirmed rumor, so updates are worth watching closely.