Since 1997, Flagship has served as a subsidiary developer for Capcom. Nintendo fans will recognize Flagship’s work in developing The Legend of Zelda: Oracle of Ages and The Legend of Zelda: Oracle of Seasons for the Game Boy Color, The Legend of Zelda: A Link to the Past: Four Swords, The Legend of Zelda: The Minish Cap, and Kirby and the Amazing Mirror for the Game Boy Advance, and finally Kirby Squeak Squad for the Nintendo DS.
In a financial report today, however, Capcom revealed to investors that its merging with and closing down of affiliated developers (such as Clover Studio and Studio 
would continue with the elimination of Flagship on June 1. Capcom has yet to comment specifically on the closing of this studio, which had many ties to Nintendo.
