Today at the Tokyo Game Show, Tecmo Koei held a  behind closed door reveal of Ninja Gaiden 3. Very little was  revealed except for the fact that Ninja Gaiden 3 is currently being developed. They “announced Team Ninja and Ninja Gaiden are going in a “new direction” and promised to display a more “human side” of hero Ryu Hayabusa. To further illustrate their intention, attending journalists were given a piece of Concept art.” No mention of a release date, or even platform, however I’m sure we’ll see this on the PS3.
Source
Bigger picture after the jump.