Various job listings for developer Spark Unlimited indicate the anime-inspired Ninja Gaiden spinoff Yaiba: Ninja Gaiden Z will be a third-person combat game on next generation consoles.

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A senior designer listing details "tuning for a third-person action shooter on next generation consoles" in the job description. Spark is also hiring for a multiplayer engineer and AI engineer to develop network code for "multiplayer/co-op functionality."

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http://www.ign.com/articles/201

An effects artist job and engineer position further corroborate that Yaiba will be a next-generation console title, although neither of these listings indicate it's a shooter. IGN inquired with Tecmo Koei about the information but received no comment.

Yaiba was officially revealed as a Ninja Gaiden game at the Tokyo Game Show this year. It's currently spearheaded by Dead Rising-vet and Mega Man creator Keiji Inafune with Spark Unlimited working in collaboration.

http://www.ign.com/articles/2012/10/19/yaiba-ninja-gaiden-z-is-for-next-gen-consoles

This is exactly what I was looking for in a thread about WiiU pro controllers.

=p

Home and Power button? Why.

"Spark is looking for an experienced Senior Multiplayer Engineer to join us in making a breakout hit, based on the established console franchise Ninja Gaiden, called Yaiba: Ninja Gaiden Z. This is an opportunity for you to have a hand in creating a bold new take on 3rd person action slasher with horror elements. You will be tasked with functionality goals to realize the online vision for a high profile next-generation property currently in prototype development. With input from team engineers, artists, designers in an agile development (SCRUM) environment, oversee and supervise core multiplayer and network game technologies within the Unreal 3 engine."

As Yaiba is a 2013 game I would assume it is a bit further along in development that the prototpe stage. In fact they were hiering for pre production on Ninja Gaiden Z in April http://jobs.gamasutra.com/jobseekerx/viewjobrss.asp?cjid=29982&accountno=352. I think it's more likely the next gen shooter is a seperate game.