Chapter 48

No way is the sixth chapter of the sixth volume and the 48th chapter overall of the Tokyo卍Revengers manga series, written and illustrated by Ken Wakui.

Summary
After Draken tells Takemichi that Valhalla was created for Mikey to lead, Takemichi is surprised. Draken tells him he was there, and Valhalla took over Toman after defeating them, on an event called Bloody Halloween. This created the Toman that currently exists. Takemichi is shocked at the notion that Toman could lose despite Mikey's power, but Draken responds that Mikey was at fault for Toman's defeat.

Draken admonishes himself for not noticing the burden Mikey carried, recounting that Mikey killed Kazutora on Bloody Halloween. However, Kisaki had planned this, and prevented Mikey's arrest by preparing a decoy. As Mikey fell into darkness, Valhalla took over Toman and it grew into a large gang. Reflecting on this, Draken says that Kisaki always had Mikey as a target. Takemichi is still in disbelief that Mikey killed Kazutora, but Draken tells him that Kazutora killed Baji, in addition to already killing Mikey's brother. Searching his memories, Takemichi remembers what happened on Bloody Halloween: the image of a deeply sad Mikey, covered in blood, standing over the bodies of Baji and Kazutora. Takemichi decides to save Mikey from falling into darkness.