English Dub Review: The Ghost in the Shell “PHANTOM FUND”

Overview

Kusanagi and the team go to the Far North to surveil a combat cyborg named Koil Krasnov. To determine what Koil is after and uncover corruption behind the expansion of Sagawa Electronics’ underground factory, Kusanagi infiltrates Sagawa’s offices while Batou and the rest make for the underground factory.



Our Take

Picking up from the previous episode, the story continues as Section 9 investigates a dangerous combat cyborg connected to a web of political corruption, corporate misconduct, and military secrets in the Far North. As Motoko and the team pursue separate leads, the case steadily unfolds into another dense cyberpunk mystery that skillfully blends espionage, detective work, and thought-provoking world-building.

While the episode features several slick action sequences, its greatest strength lies in its character-driven storytelling. Batou’s subplot is particularly poignant, as his personal grief and unwavering sense of loyalty add genuine emotional weight to the investigation, while Motoko once again demonstrates her intelligence and composure in typically unforgettable fashion. Fans of classic anime will also appreciate a certain surprise character cameo from Masamune Shirow’s earlier works that longtime viewers of ’80s and ’90s anime are sure to recognize.

Overall, this is another strong episode that prioritizes atmosphere, political intrigue, and character development over constant action. Although a few of the fight scenes could have lasted longer, the compelling investigation, excellent world-building, emotional core, and clever callbacks make for another rewarding installment that proves *The Ghost in the Shell* continues to excel at balancing substance with style.