Tecmo Koei Canada, the Toronto-based studio, will be shutting down at the end of March, according to a report by the Financial Post. The company did not state how many employees have been laid off due to the closure.
"It was definitely an interesting experience at Tecmo Koei Canada," said former employee of Tecmo Koei Harold Li. "We had a ton of talented people who put in their best efforts, and it’s unfortunate that things didn’t go as well as it could."
The closure came a shock to other Toronto-based studios, however many stated the developer kept a low profile. Tecmo Koei Canada was also only one of two major developers in Toronto until Ubisoft Toronto opened up in 2010.
The studio opened in 2001 and mainly focused on computer graphics for the company's headquarters in Japan. It didn't start developing its own games until 2005. The studio has developed titles for mobile platforms and games like Fatal Inertia and Warriors: Legends of Troy.