diff --git a/src/aindump/aindump.c b/src/aindump/aindump.c
index a50f513..81e5113 100644
--- a/src/aindump/aindump.c
+++ b/src/aindump/aindump.c
@@ -27,7 +27,7 @@
 #include "system4/string.h"
 #include "system4/utfsjis.h"
 
-void disassemble_ain(struct ain *ain, FILE *out);
+void disassemble_ain(FILE *out, struct ain *ain, bool raw);
 
 static void usage(void)
 {
@@ -36,6 +36,7 @@ static void usage(void)
 	puts("");
 	puts("    -h, --help               Display this message and exit");
 	puts("    -c, --code               Dump code section");
+	puts("    -C, --raw-code           Dump code section (raw)");
 	puts("    -f, --functions          Dump functions section");
 	puts("    -g, --globals            Dump globals section");
 	puts("    -S, --structures         Dump structures section");
@@ -247,6 +248,7 @@ int main(int argc, char *argv[])
 {
 	bool dump_version = false;
 	bool dump_code = false;
+	bool dump_raw_code = false;
 	bool dump_functions = false;
 	bool dump_globals = false;
 	bool dump_structures = false;
@@ -268,6 +270,7 @@ int main(int argc, char *argv[])
 			{ "help",               no_argument,       0, 'h' },
 			{ "ain-version",        no_argument,       0, 'V' },
 			{ "code",               no_argument,       0, 'c' },
+			{ "raw-code",           no_argument,       0, 'C' },
 			{ "functions",          no_argument,       0, 'f' },
 			{ "globals",            no_argument,       0, 'g' },
 			{ "structures",         no_argument,       0, 'S' },
@@ -284,7 +287,7 @@ int main(int argc, char *argv[])
 		int option_index = 0;
 		int c;
 
-		c = getopt_long(argc, argv, "hVcfgSmlsFeAo:", long_options, &option_index);
+		c = getopt_long(argc, argv, "hVcCfgSmlsFeAo:", long_options, &option_index);
 		if (c == -1)
 			break;
 
@@ -298,6 +301,9 @@ int main(int argc, char *argv[])
 		case 'c':
 			dump_code = true;
 			break;
+		case 'C':
+			dump_raw_code = true;
+			break;
 		case 'f':
 			dump_functions = true;
 			break;
@@ -382,7 +388,9 @@ int main(int argc, char *argv[])
 	if (dump_enums)
 		ain_dump_enums(output, ain);
 	if (dump_code)
-		disassemble_ain(ain, output);
+		disassemble_ain(output, ain, false);
+	if (dump_raw_code)
+		disassemble_ain(output, ain, true);
 	if (audit)
 		ain_audit(output, ain);
 
diff --git a/src/aindump/dasm.c b/src/aindump/dasm.c
index 4ca5e36..cea14bd 100644
--- a/src/aindump/dasm.c
+++ b/src/aindump/dasm.c
@@ -29,6 +29,7 @@ struct dasm_state {
 	FILE *out;
 	size_t addr;
 	int func;
+	bool raw;
 };
 
 #define NR_LABEL_BUCKETS 128
@@ -136,6 +137,10 @@ static void print_string(struct dasm_state *dasm, struct string *s)
 
 static void print_argument(struct dasm_state *dasm, int32_t arg, enum instruction_argtype type)
 {
+	if (dasm->raw) {
+		fprintf(dasm->out, "0x%x", arg);
+		return;
+	}
 	char *label;
 	struct ain *ain = dasm->ain;
 	switch (type) {
@@ -227,6 +232,9 @@ static void print_arguments(struct dasm_state *dasm, const struct instruction *i
 
 static void print_instruction(struct dasm_state *dasm, const struct instruction *instr)
 {
+	if (dasm->raw) {
+		fprintf(dasm->out, "0x%08lX:\t", dasm->addr);
+	}
 	switch (instr->opcode) {
 	case FUNC:
 		dasm->func = LittleEndian_getDW(dasm->ain->code, dasm->addr + 2);
@@ -266,29 +274,32 @@ static char *genlabel(size_t addr)
 	return strdup(name);
 }
 
-void disassemble_ain(struct ain *ain, FILE *out)
+void disassemble_ain(FILE *out, struct ain *ain, bool raw)
 {
 	struct dasm_state dasm = {
 		.ain  = ain,
 		.out  = out,
 		.addr = 0,
-		.func = -1
+		.func = -1,
+		.raw  = raw
 	};
 
-	// first pass to generate labels
-	for (dasm.addr = 0; dasm.addr < dasm.ain->code_size;) {
-		const struct instruction *instr = get_instruction(&dasm);
-		switch (instr->opcode) {
-		case JUMP:
-		case IFZ:
-		case IFNZ: {
-			int32_t arg = LittleEndian_getDW(dasm.ain->code, dasm.addr + 2);
-			add_label(genlabel(arg), arg);
-			break;
+	if (!raw) {
+		// first pass to generate labels
+		for (dasm.addr = 0; dasm.addr < dasm.ain->code_size;) {
+			const struct instruction *instr = get_instruction(&dasm);
+			switch (instr->opcode) {
+			case JUMP:
+			case IFZ:
+			case IFNZ: {
+				int32_t arg = LittleEndian_getDW(dasm.ain->code, dasm.addr + 2);
+				add_label(genlabel(arg), arg);
+				break;
+			}
+			default: break;
+			}
+			dasm.addr += instruction_width(instr->opcode);
 		}
-		default: break;
-		}
-		dasm.addr += instruction_width(instr->opcode);
 	}
 
 	for (dasm.addr = 0; dasm.addr < dasm.ain->code_size;) {