Twin Cobra II was originally under development by Toaplan but the studio closed down in 1994. Taito allowed Toaplan offshoot Takumi Corporation to finish work on the project as their first release. Initially launched for the arcades, the game was later received a conversion for the Sega Saturn by Naxat Soft and published exclusively in Japan on 18 December 1997 under the name Kyukyoku Tiger II Plus, featuring changes and additions compared with the original version.