Bandai Namco is closing Reflector Entertainment, the Montreal studio that made Unknown 9: Awakening. Bandai Namco Holdings’ board passed a resolution on November 10, 2026 to dissolve and liquidate the studio, the company said in a notice to investors published the same day.
The Details
Bandai Namco gave one reason, in its own words: “After comprehensively considering future business plans, necessary additional investment, and the possibility of profitability and business continuation, the Company has decided to discontinue Reflector’s business, dissolve and liquidate it.” The notice frames it as part of a regular review of the group’s “business portfolio and intra-Group developmental structure.”
What the notice confirms about the studio:
- Who owns it: Reflector Entertainment Ltd. is wholly owned by Bandai Namco Entertainment Europe.
- What it does: “planning and development of content for entertainment such as home console games.”
- Where and since when: Montreal, Canada, founded December 29, 2015, led by CEO Herve Hoerdt.
- When it ends: there is no date yet. Bandai Namco says “a concrete schedule is undecided” and liquidation will be complete once the procedures required by local law are done.
- What it costs: Bandai Namco expects an extraordinary loss of about 21 million euros (roughly 3.5 billion yen), booked in the third quarter of its fiscal year ending March 31, 2027, and after. It calls that an estimate and says the amount and timing are still under review.
What This Means for Players
Reflector’s released game is Unknown 9: Awakening, a single-player action-adventure that came out in October 2024 on PS5, Xbox Series X|S, PS4, Xbox One, and PC. Bandai Namco’s notice does not mention the game at all, so it says nothing about future patches or how long it stays on sale. As of today the game is still listed on Steam at its regular $19.99, and Steam lists it as single-player only, with no online mode. Nothing in the notice changes how your copy works today.
The notice covers Reflector only, and names none of Bandai Namco’s other studios or series. If you play Ace Combat 8, our Ace Combat 8 DLC guide covers what Bandai Namco has announced for post-launch content, with every other guide on our Ace Combat hub. Bandai Namco also publishes Elden Ring outside Japan (our Elden Ring hub has every guide), and its next Dragon Ball game, due in 2027, already rewards Xenoverse 2 players, as our story on Dragon Ball Xenoverse 3’s Link Data rewards explains.
When and Where
- Announced: November 10, 2026, by Bandai Namco Holdings.
- Studio: Reflector Entertainment, Montreal.
- Closing date: not set; liquidation finishes once local legal steps are complete.
- Expected loss: about 21 million euros, booked from Bandai Namco’s fiscal third quarter on.
- Unknown 9: Awakening: still listed on Steam today.
Source: Bandai Namco Holdings, Notice Regarding Dissolution and Liquidation of the Company’s Consolidated Subsidiary, November 10, 2026.