The company name is derived from musical terminology, representing the five elements of game design: planning, graphics, sound, programming, and production.

Masaya Hashimoto, who served as the main director, designer, and programmer for the same early Ys titles, also joined Quintet alongside Miyazaki.

In response to comments from fans impatient with the lack of news, Quintet staff posted: "As we cannot currently release any information, we will close this bulletin board".

A fan-led effort to encourage a re-release or remaster of Terranigma in 2021 led to renewed speculation about the status of the rights to Quintet's games.

[4] In December 2023, Yuzo Koshiro directly urged Square Enix to bring Illusion of Gaia and Terranigma to modern platforms.