GungHo Online Entertainment is a Japanese developer & publisher that is most well known for the action puzzle franchise Puzzle & Dragons. They also own a small number of developers including Game Arts, Grasshopper Manufacture and Acquire.


The company was founded as a joint venture between Softbank and onSale Inc. for online auction business in the United States. By 2002, they were moved into Japan and started working with the game industry, starting with hosting the servers for Ragnarok Online.

In 2004, they started codevelopment with projects with Game Arts. They formed an internal studio called GungHo Works in 2007. Later that year, they acquired the gaming properties from Interchannel.

In 2008, they acquired Gravity, the developer behind Ragnarok Online, bringing the property under GungHo's ownership. In 2013, they acquired Grasshopper Manufacture. In 2016, they convinced Softbank to sell most of its stake in GungHo, allowing the company to operate independently. Softbank is still the highest stake holder at 35%