(The most famous lost project of all)
GODZILLA VS BAGAN
Godzilla does battle with a mysterious creature dubbed Bagan.
Surprisingly, this concept didn't get very far before Toho tossed it out in favor of other storylines. However, Bagan's appearance in the Super Nintendo game Super Godzilla easily makes this the most well known of Toho's scrapped endeavors. The movie was also reported to feature an appearance by the Gotengo, from the 1963 film Atragon, although its exact role was unknown.
Rumors related to the Godzilla vs. Bagan story also insist that Godzilla was going to transform into a second form, dubbed Super Godzilla in the video game, but this seems unlikely given that most of the elements of that design were already utilized on SpaceGodzilla in the 1994 Godzilla outing.
In the wake of this failed premiss, Toho went on to create the last film in the Heisei Godzilla series, Godzilla vs. Destoroyah (1995), while also creating an animated super sub movie: Super Atragon (1995), although the ship featured is the Ra instead of the original Gotengo.