Bandai Namco’s board approved the decision on November 10. Reflector will discontinue its business and proceed with dissolution and liquidation under Canadian procedures. The group says it considered future plans, additional investment and the prospect of maintaining profitable operations before deciding to close the studio.
Reflector was established in Montreal on December 29, 2015. It is wholly owned by Bandai Namco Entertainment Europe and plans and develops entertainment content, including console games. Unknown 9: Awakening, released in 2024, is the project many players associate with the studio.
The expected charge relates to closing the studio
Bandai Namco expects an extraordinary loss of approximately €21 million, or ¥3.5 billion, associated with dissolution and liquidation. It plans to recognize the charge from the third quarter of the financial year ending March 31, 2027, and thereafter. The amount and timing may change as procedures progress and tax and accounting treatment are settled.
The filing also shows that Reflector’s business had contracted. Sales for the year ending March 2026 were about C$14.66 million, down from C$47.78 million the previous year. The studio recorded roughly C$2.57 million in operating profit but a net loss of nearly C$1.98 million. Bandai Namco describes its decision in terms of future viability and further investment requirements, with several factors considered together.
Unknown 9 follows Haroona between two worlds
Unknown 9: Awakening is an action-adventure game about Haroona and her connection to a dimension called the Fold. Players use its powers to disappear from sight, evade bullets or take control of enemies. As Haroona explores her abilities, she becomes a target of the Ascendants, a group seeking to use the Fold to alter history.
A completion date for Reflector’s liquidation has not been set. It will conclude once the necessary local legal procedures are finished. Bandai Namco says it will make further disclosures when required.
Sources · Bandai Namco Holdings · Unknown 9: Awakening on Steam
