Bandai Namco is closing Reflector Entertainment, the Montreal studio behind Unknown 9: Awakening: what the November 10 notice says

Bandai Namco Holdings announced on Tuesday, November 10, 2026 that its board of directors had resolved the same day to dissolve and liquidate Reflector Entertainment Ltd., its Montreal-based subsidiary and the developer of Unknown 9: Awakening. Reflector, founded on December 29, 2015, is 100% owned by Bandai Namco Entertainment Europe.

Why Bandai Namco is closing the studio

The official notice says the group “continuously reviews its business portfolio and intra-Group developmental structure” and that, “after comprehensively considering future business plans, necessary additional investment, and the possibility of profitability and business continuation”, it decided to discontinue Reflector’s business. The figures published in the notice show negative net assets of about 89.5 million Canadian dollars at March 31, 2026, and net losses in each of the last three fiscal years.

Schedule and financial impact

    • Schedule: no date yet. Liquidation will be complete once the procedures required by local (Canadian) law are finished. 

    • Loss: Bandai Namco expects an extraordinary loss of about €21 million (about ¥3.5 billion), recorded from the third quarter of the fiscal year ending March 31, 2027 onward. The company says this is an estimate and may change. 

    • Staff: the notice does not say how many employees are affected. 

What about Unknown 9: Awakening and the next game?

Unknown 9: Awakening, an action-adventure game starring Haroona (played by Anya Chalotra), launched in October 2024 on PS5, Xbox Series X|S, PS4, Xbox One and PC; Gematsu notes it received mostly weak reviews. On November 10 the game was still listed on Steam at €19.99, published by Bandai Namco Entertainment. Bandai Namco has not said anything about the game’s future availability. According to Insider Gaming, Reflector’s website still mentioned an unannounced new game in development; the notice does not mention it.

Sources (read November 10, 2026, about 1:25 p.m. Paris time):

Bandai Namco Holdings, “Notice Regarding Dissolution and Liquidation of the Company’s Consolidated Subsidiary”, November 10, 2026 (official PDF): https://www.bandainamco.co.jp/files/E_HP_Clean__E980A3E7B590E5AD90E4BC9AE7A4BEE381AEE8.pdf

Gematsu, “Bandai Namco to shut down Reflector Entertainment”, November 10, 2026: https://www.gematsu.com/2026/11/bandai-namco-to-shut-down-reflector-entertainment

Insider Gaming, “Bandai Namco Announces Reflector Entertainment Liquidation”, November 10, 2026 (quoting the Reflector website): https://insider-gaming.com/bandai-namco-announces-reflector-entertainment-liquidation/

Official Steam store page “Unknown 9: Awakening”, read November 10, 2026: https://store.steampowered.com/app/1477940/Unknown_9_Awakening/

Official video “『Unknown 9: Awakening』 - Cinematic Launch Trailer -”, Bandai Namco Entertainment YouTube channel: https://www.youtube.com/watch?v=3eV2icLgKuw

Image: official Unknown 9: Awakening screenshot (a character walking through a sunlit alley), © Bandai Namco Entertainment / Reflector Entertainment. File: https://shared.akamai.steamstatic.com/store_item_assets/steam/apps/1477940/ss_3fd604d3981dcfdde2d140f3ec33846d186c5441.1920x1080.jpg