Valhalla Game Studios
|Satoshi Kanematsu, Tomonobu Itagaki|
The studio is run by former Tecmo staff: Satoshi Kanematsu, who worked on Monster Rancher and Rygar, and Tomonobu Itagaki, a game designer known for his work on the Dead or Alive and Ninja Gaiden series.
Since 2010, the company has been working on Devil's Third, a "hyper-violent shooter". Originally developed as a title for the Playstation 3 and Xbox 360, the game is being developed exclusively for the Wii U. Following the closure of development partner THQ, intellectual property rights to Devil's Third were given back to Valhalla Game Studios. The game was re-announced by Nintendo at E3 2014. The title released in 2015. Critical response aggregator Metacritic assigned Devil's Third an approval score of 44%, based on 46 reviews, indicating "generally unfavorable reviews". In November 2015, it was announced that Valhalla and Nexon would be releasing Devil's Third Online, a PC port of Devil's Third's multiplayer mode, as part of a partnership.  The title will go into open beta in December in Japan and will release in the same region in late January. It was confirmed that features that were absent in the original, such as voice chat, would be added to Devil's Third Online.
- McWhertor, Michael (6 November 2010). "Ninja Gaiden Creators Reveal Devil's Third, The Bloody New Shooter From Valhalla". Kotaku.
- Purchese, Robert (4 July 2012). "Devil's Third rights returned to Itagaki and Valhalla Game Studios". Eurogamer.