No, I think the SA guys are right on the money when they point out that Ishimaru had a blood trail indicating his body was carted off, while Yamada's blood is undisturbed. Yamada's not dead yet. And I'll agree with theory number 2 that Hagakure himself is the real second victim.
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"[This is perfect. I have always fought with these kinds of cards. You say that I have lost the moment I was dealt? It's just the same as always!]"