It was founded by programmer Kazunari Tomi, a former employee of Nihon Falcom whose credits include Sorcerian, Star Trader, and Dinosaur.

After leaving Nihon Falcom, he founded Studio Alex, which functioned primarily as a consultant company.

Studio Alex co-developed the initial three titles of the Lunar series with Game Arts, released in Japan between 1992 and 1996.

The company would later file a lawsuit against Game Arts over secondary creator copyrights to Lunar: The Silver Star, claiming that its remake for the Sega Saturn, Lunar: Silver Star Story, was produced without their permission and requested royalties.

[1] Game Arts then counter-sued Studio Alex for damages and development issues related to the Saturn version of Mahō Gakuen Lunar!, as well as a theatrical animation meant to coincide with its release.