This weekend, Tomonobu Itagaki's newest project, being created at his recently formed Valhalla Studios, was confirmed as Devil's Third.
After falling out with Tecmo, the creator of Ninja Gaiden and the DOA series decided to open up his own development house in order to make new IPs the way he wanted to make them , i.e. with sufficient talent and resources.
Devil's Third is an action/third-person shooter/platformer. From the 50 second teaser clip recently revealed, it looks like guns, katanas grenades, wall running, and other ninja-like acrobatics will all be incorporated with a Grindhouse feel.
In fact, from what we can see, the game looks a lot like a mix between Bethesda's Wet and the Ninja Gaiden franchise. Check out the clip for yourself by clicking HERE.