The team was composed mostly of ex-Compile developers who left to form their own company.

They were best known for shoot 'em up games developed for the Dreamcast and its arcade counterpart, the Sega NAOMI.

The company had one subsidiary, MileStone Vietnam Co. Ltd., established on August 1, 2007 as an authorized game software developer by Nintendo of America.

[citation needed] In March 2013, Hiroshi Kimura, the president of MileStone, was arrested for violations of the Financial Instruments and Exchange Act for his activities while selling shares of a new company called MS Bio Energy.

[1] ^a Originally scheduled for release in North America but ultimately canceled ^b Compilation ^c Originally scheduled for release in North America and Europe but ultimately canceled ^d Included as part of the Milestone Sound Collection package.