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Looking at development timelines, I'm also betting this is Team Kunai's game. They haven't released anything since Ninja Gaiden II almost 2 years ago, so it lines up perfectly.... for those wondering, here's what Team Ninja's 3 groups have developed before...

Team Kunai

  • Dead or Alive 3 (Xbox) 2001
  • Ninja Gaiden (Xbox) 2004
  • Ninja Gaiden Black (Xbox) 2005
  • Dead or Alive 4 (Xbox 360) 2005
  • Ninja Gaiden II (Xbox 360) 2008
  • Metroid: Other M (Wii) 2010 ???

Team Kunoichi

  • Dead or Alive Xtreme Beach Volleyball (Xbox) 2003
  • Dead or Alive Ultimate (Xbox) 2004
  • Dead or Alive Xtreme 2 (Xbox 360) 2006
  • Ninja Gaiden: Dragon Sword (Nintendo DS) 2008
  • Dead or Alive Paradise (PSP) 2010

Team Sigma

  • Ninja Gaiden Sigma (PlayStation 3) 2007
  • Ninja Gaiden Sigma 2 (PlayStation 3) 2009