# Bandai Namco to shut down Reflector Entertainment

> **Open Intelligence Dossier** · First detected: 2026-11-10 13:40 UTC · Category: Technology

## Executive Summary
Bandai Namco has announced the dissolution and liquidation of its Canadian subsidiary, Reflector Entertainment.

## Intelligence Brief
Bandai Namco announced the dissolution and liquidation of its Canadian subsidiary, Reflector Entertainment, according to a document discovered on November 10. Marketscreener.com reported that Bandai Namco will record 3.5 billion yen in an extraordinary loss, and its shares fell 6%. GamesIndustry.biz stated that the company expects to post a €21m loss in Q3 as a result of the closure. TradingView noted that the decision was detailed in a notice regarding the dissolution and liquidation of the company's consolidated subsidiary.


Reflector Entertainment was originally acquired by Bandai Namco in 2020. Insider Gaming reported that the studio's sole released game was Unknown 9: Awakening. According to Insider Gaming, the studio's official website indicated that a new game was previously in development, noting in a statement that they would love to fill people in on the new game if they signed a non-disclosure agreement first.


Insider Gaming reported that an outright reason for the closure was not given outside of the company's formal explanation. The official document stated that the group continuously reviews its business portfolio and intra-group developmental structure for medium- and long-term growth and to enhance corporate value. The notice added that the decision came after comprehensively considering future business plans, necessary additional investment, and the possibility of profitability and business.


Regarding the timeline of the closure, Insider Gaming reported that the liquidation has not officially happened yet. The document states that liquidation is expected to be complete once the necessary procedures according to local laws are completed.

## Multi-Source Evidence Table
| Source Outlet | Headline | Verification URL |
|---|---|---|
| Game Informer | Bandai Namco Shuts Down Unknown 9: Awakening Developer Reflector Entertainment | [Source Link](https://news.google.com/rss/articles/CBMiswFBVV95cUxNMEhfUDlRWkxLWEpISW5pblgzSWdtQnZrM1BHNXlSdllCempIVGhaQUJBNkc1R2hCM3J1OUNYemNRWEZKZ0dqOTlVVUQ0b015X3pFV09XczMwYVdtYWQ5WGNpSmdPZzhqWnllMV9ORXJPVWNYR19SRWRHOXBvWmt4OFlIbFZ6YmR2MlNIZm0wX1I5aU83TGlmSG0xemhoVGNBc3V5TlNCZE9pYVVUYjVnY1JmWQ?oc=5) |
| PlayStation Universe | Unknown 9: Awakening Developer Reflector Entertainment Is Shutting Down | [Source Link](https://news.google.com/rss/articles/CBMib0FVX3lxTFBhOV9nTWtib1lMc1FHU1psX0JKeW5JZUlseE43a0UyZkE3X3o2U0hhNWFVQlV2Mzc2RzktSEluUzVrVTBoOG11WHZSSE0xZlRwM0s4aVJ1VkJUUHlxVFVHdEQ1c3lMYkZ2YjRKbkdYNA?oc=5) |
| Polygon.com | Bandai Namco Shuts Down Once-promising Studio after Colossal Failure | [Source Link](https://news.google.com/rss/articles/CBMilAFBVV95cUxNRE5wNzFLSlZqeW40TVdyaXZJazY3U0ttN2lvR2p6N2s5LXBCblBRd3pyUFJ6N0FWZjZ6LW00eE82aW5yc040Qk95RUNvM1M5czMxQWxaUHhXZkkxQUJkVUxvMDVIV0JsRFlnWkZ6a2xraGRjcHE1WlhGZmFYeFpCRlRFdUI4elp3ZVpudlFpa3RBMkU1?oc=5) |
| Push Square | Unknown 9 Dev Being Shut Down Two Years After Disaster PS5 Launch | [Source Link](https://news.google.com/rss/articles/CBMiqAFBVV95cUxPeXRjX3lDNUsxbHVFdHVsR3BqR0YxQm9SWXNKM1B6UnNFU1RILVRnRUdYYUg3YmxyWTcyYkRpQ1BZZjkxWEZuQnM5M2ZYZzFHNnh0SUhqZTZ1Tl9GWWZQMHRvN2htSkdEbXhuTjJvaE55NEpTQWFBcFZMYWt6bmJOWkV4YTRvSS1KTWoyTUtGdm5KMGFrNURtdlZQS3N3LTU0Z0xIbFdKMU8?oc=5) |
| marketscreener.com | Bandai Namco to Dissolve Canadian Subsidiary, Record 3.5 Billion Yen in Extraordinary Loss; Shares Fall 6% | [Source Link](https://news.google.com/rss/articles/CBMi5gFBVV95cUxPeFB0X0ZEVkJuRk1CVUVuT05uNWVJTWlWY1ppMFhWd3dCakJ2Umd2U0VEeUVBaTV4TElkM2o4UXZfNTR2QWt2NjRMN3JxbmJjcVpNcDlaOWFzRmlYcDlKbFpoOXp1Y1IxUkgyakxBRFJ4eXdBZlJ1ZGhnVWhmbWJnV253ZVJwdTBSaXMtY19weU5RUExWTDUtSVowczJCOXJoMWl4ZV9DWDdzbmtJQVg2bjAyVVpSVFlpOHdaUTNnMnJCWUszVWxsRF9sWElrUU80a3BYcEl4YXNRcXdOeEQ3VUFlOEo5dw?oc=5) |
| Insider Gaming | Bandai Namco Announces Reflector Entertainment Liquidation | [Source Link](https://news.google.com/rss/articles/CBMijwFBVV95cUxPTk0waDJTNG9xbGNHZVIzQV9ieEttdkd5cC15TTdHTExzS01SdVNqSU9VWm9peHRTaDJRblVzLVUwZGFTUl91ZVNFN1ZoN3Z4ckFYaFNOQW10Qlp4cWNYbDdUNmpXZnJ5b1RBQW9LRVRMd0dybTlqOHN6WXl2MDBhRVlicjFwUHIzaERXSlJaaw?oc=5) |
| AUTOMATON | Bandai Namco to shut down Canada-based game studio Reflector Entertainment, developer of Unknown 9 | [Source Link](https://news.google.com/rss/articles/CBMizwFBVV95cUxQRWdNSl9KXzZTWnd2YVM3ektCMk1fVU5sNFhSaF9OSWMwTFhTd0JJQWpqenpNQWFOMHJMb2F5UnpHeTkta2E4cUQ2dnVEbWxtYlR6MEJ0MUdnWWlXRTQ3SEhqUkpuLVU3QUtMekppQTktam1NcEQ2T3Q5WW9vUzl4aDBYV2NyLTlBcGtoTnhqY0ZkNGFzdDFFZU1Cc1RWSmp3U0RPUHByVExyZmxieHlxd1R5UHlpamN1Z1k4V1JmcVU3cUE2TjVmVFpUN1ZweGc?oc=5) |
| TradingView | Bandai Namco Holdings Inc - Notice Regarding Dissolution And Liquidation Of Company's Consolidated Subsidiary | [Source Link](https://news.google.com/rss/articles/CBMiiAJBVV95cUxQS29BRVNMTEtGc3Q2ck44TlUyZUJ1UDBQS0UtR1JJT0dIdkFiWWFjWDg2bDY3MTlXSkZTNkVycEhyZVBOVUZxQ0c3ZEpHY0VwdlhqNzM5ZE9idE93aGJnN21qN2ZjWHBGbXZQbEItdk4za2tGTUNxLVMxV2lpbFZpYVJwQTg3RDZ1OXlOVU13N3dHRDBGVU1nUXljc0ZtY0tZeHo0U3Z5U18yeDFMYWE4OEJubVl6NV85T2lhOGRKX0E0NzYzMTdjUTNSX1lndTYwdEhvRGpjZ2lXSHJ0bm1USTY5VjJGRk5iZkNZeDQ0d2tTWXY4QzVtRFh2OU9POUVmV1JtMHlyY1U?oc=5) |
| GamesIndustry.biz | Bandai Namco closes Reflector Entertainment, expects to post €21m loss in Q3 as a result | [Source Link](https://news.google.com/rss/articles/CBMitwFBVV95cUxQdUdsU0g0QTgxSnBtM09GUms1Z3VFeXM4Y3MyRjFsTU9sdHhJSnhmSzhPb0dxbVd6UFdaX0hGam5ZU2psSTRwVjRBOE5SenpPX20tNGFHZkZZSWxhOEhsdmFyWUd5VWJnb0hGT3JrR0RtUFM5bGdRQXpWenJXT1RyZTBISHh4MGhSWnZhYXhpT0xzbElvekduUDJxWktpWm9Ldy13VHFrbHpBcXJyQjNNRE9YSTAteUk?oc=5) |
| Gematsu | Bandai Namco to shut down Reflector Entertainment | [Source Link](https://news.google.com/rss/articles/CBMiiAFBVV95cUxQOEs2OGpDcHgxYzBSS2dVZHR6a0QyWFJuSW9Ldy02d3BDRDBFSnROWGJBdGIzeGhzQ0d6TURkVjVTTHpUUnJmdjhiaDFXUjNRYTdRMWVUQU9rcGIwWGN2ZXNFRTFQXzdIbjRkbG5XTk9aNUhVSGc4OHdDbHRoQ1BPNTFMdEpUQjNx?oc=5) |

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*Canonical Source: https://pulse.byoaiapps.com/trend/2026-11-10/bandai-namco-to-shut-down-reflector-entertainment*