is a Japanese video game developer based in Tokyo known for its action, platform, and shoot 'em up games. The company was founded in 1992 by former Konami employees seeking to explore original game concepts and free themselves from Konami's reliance on sequels. Their first game, Gunstar Heroes (1993) on the Sega Genesis, was a critical success and established a creative and action-oriented design style that would continue to characterize its output. Treasure's philosophy in game development has always been to make games they enjoy, not necessarily those that have the greatest commercial viability.
Treasure grew a cult following for its action games developed during the 1990s, and though initially exclusive to Sega platforms, the studio expanded to other platforms in 1997. The company earned recognition from critics, being called one of the best Japanese indie studios and 2D game developers. The company's output decreased in the 2010s, with its most recent release being Gaist Crusher God in 2014.
History
Origins and 16-bit era (1990s)
Treasure founder and president Masato Maegawa dreamed of working in the video game industry when he was young and began learning computer programming in junior high school. He studied programming in college and was hired by developer and publisher Konami after graduating. In 1991, Maegawa and several other Konami employees began planning an original game that would become Gunstar Heroes (1993), but their concept was rejected by Konami. Maegawa and his team were growing frustrated with Konami's growing reliance on sequels to established franchises such as its Castlevania and Teenage Mutant Ninja Turtles series.
thumb|right|In its first years, Treasure developed games for the [[Sega Genesis.]]
Treasure was founded on June 19, 1992; the company name came from wanting to be a "treasure" to the industry. Even though most of the staff made games for the Super NES at Konami, they wanted to develop Gunstar Heroes for the Sega Genesis because the system's Motorola 68000 microprocessor was necessary for the visuals and gameplay they were striving for. McDonald's Treasure Land Adventure was released next, initiating a trend for Treasure of developing games based on licensed properties. As a small studio, Treasure required the revenue from licensed games to develop original projects. After Gunstar Heroes, Treasure was divided into four teams to develop (in order of release): platformer Dynamite Headdy (1994), fighting game Yu Yu Hakusho Makyō Tōitsusen (1994), run and gun Alien Soldier (1995), and action-adventure Light Crusader (1995). (photo taken in 2019)]]
In 1998, Treasure released its first arcade game, the shoot 'em up Radiant Silvergun. Treasure had been hesitant to develop an arcade game for years because of concerns with their commercial viability, but the staff felt Radiant Silvergun had potential and it was eager to develop it. The game was ported to the Saturn later that year. This was followed by the multidirectional shooter Bangai-O (1999) which received a limited release on the Nintendo 64, but was later modified and re-released for the Dreamcast.
Identity crisis (2000s)
Treasure began the 2000s with some early troubles. Also, Silpheed: The Lost Planet (2000) and Stretch Panic (2001) for the PlayStation 2 both weren't received very well. The game was not released in western territories but grew a cult following among import gamers. While Sin and Punishment was still in development, Treasure started development on a spiritual sequel to Radiant Silvergun titled Ikaruga (2001). The arcade shooter was co-developed with G.rev, and was critically praised for returning to Treasure's classic side-scrolling action style that had been missing from its recent output. By 2009, the company had 20-30 employees.
Recent history (2020s)
On June 19, 2022, its 30th anniversary, Treasure announced it was working on a "highly requested" game. Shortly afterwords, it re-released Radiant Silvergun for the Nintendo Switch. They had less than 10 staff by 2022. They pride themselves in creating original ideas and avoiding imitating other works or being associated with games already on the market. Maximum: The Video Game Magazine called it "one of the most respected programming houses in the world" in 1996.
! Original platform(s)
! Co-developer
|-
| rowspan="2" |1993
|Gunstar Heroes
|Sega Genesis, Game Gear
|M2 <small>(GG)</small>
|-
| scope="row" |McDonald's Treasure Land Adventure
|Sega Genesis
|
|-
| rowspan="2" |1994
|Dynamite Headdy
|Sega Genesis, Game Gear, Master System
|Minato Giken <small>(GG / MS)</small>
|-
|Yu Yu Hakusho Makyō Tōitsusen
| rowspan="3" |Sega Genesis
|
|-
| rowspan="2" |1995
|Alien Soldier
|
|-
|Light Crusader
|
|-
|1996
|Guardian Heroes
|Sega Saturn
|
|-
| rowspan="2" |1997
|Mischief Makers
|Nintendo 64
|
|-
|Silhouette Mirage
|Sega Saturn, PlayStation
|
|-
|1998
|Radiant Silvergun
|Arcade, Sega Saturn
|
|-
| rowspan="2" |1999
|Rakugaki Showtime
|PlayStation
|
|-
|Bangai-O
|Nintendo 64, Dreamcast
|
|-
| rowspan="2" |2000
|Sin and Punishment
|Nintendo 64, iQue Player
|Nintendo R&D1
|-
|Silpheed: The Lost Planet
| rowspan="2" |PlayStation 2
|Game Arts
|-
| rowspan="2" |2001
|Stretch Panic (Freak Out)
|
|-
|Ikaruga
|Arcade, Dreamcast, GameCube
|G.rev
|-
|2002
|Tiny Toon Adventures: Buster's Bad Dream
| rowspan="2" |Game Boy Advance
|
|-
| rowspan="4" |2003
|Hajime no Ippo: The Fighting!
|
|-
|Wario World
| rowspan="2" |GameCube
|
|-
|Dragon Drive: D-Masters Shot
|
|-
|Astro Boy: Omega Factor
|Game Boy Advance
|Hitmaker
|-
| rowspan="2" |2004
|Gradius V
|PlayStation 2
|G.rev
|-
|Advance Guardian Heroes
| rowspan="2" |Game Boy Advance
|
|-
|2005
|Gunstar Super Heroes
|
|-
| rowspan="2" |2006
|Bleach: The Blade of Fate
|Nintendo DS
|
|-
|Sega Ages 2500 Vol. 25: Gunstar Heroes Treasure Box
|PlayStation 2
|M2
|-
|2007
|Bleach: Dark Souls
| rowspan="2" |Nintendo DS
|
|-
| rowspan="2" |2008
|Bangai-O Spirits
|
|-
|Bleach: Versus Crusade
| rowspan="2" |Wii
|
|-
|2009
|Sin & Punishment: Star Successor
|Nintendo SPD
|-
|2011
|Bangai-O HD: Missile Fury
|Xbox 360
|
|-
|2013
|Gaist Crusher
| rowspan="2" |Nintendo 3DS
|
|-
|2014
|Gaist Crusher God
|
|}
Cancelled games
- Gun Beat (Arcade, cancelled 2000)
- Tiny Toon Adventures: Defenders of the Universe (GameCube & PlayStation 2, cancelled 2002)