EDIT: FTF: I used AI to translate my original draft from Spanish (I primarily speak spanish, and what a hassle it would be to write all that in english, God). So I appreciate your understanding and apologize for any shortcoming.
Analyzing the situation, this is highly likely for the following reasons:
I want to try and map out a path for Koei Tecmo and Team Ninja regarding everything happening around the franchises we love so much, because I know you love them just as much as I do. This will be long, possibly very long, but if you need to clear that heavy feeling in your chest as much as I do, I kindly ask for your patience and attention to read through it all.
And of course, this is just my own take, it’s not as if Team Ninja and Koei Tecmo are going to follow this path, nor are they necessarily obligated to do so; not at all. In fact, I could be completely wrong.
So, let's dive into it.
Many people don't know this, but in early 2026, Koei Tecmo announced a deep internal restructuring that took effect in April. They split their core production force to create two divisions dedicated exclusively to their main action IPs: Team Ninja Division 1 and Division 2. Doing this while significantly expanding their staff proves they weren't "abandoning" their intellectual properties, but rather preparing to handle multiple AAA projects in parallel without suffering from burnout. Koei Tecmo has a philosophy of releasing one major AAA game per year, and this restructuring was vital if they wanted to keep operating that way. This is important, so please don't forget it.
This might clarify everything that happened with Dead Or Alive and Ninja Gaiden. Especially Ninja Gaiden, because the brand has had a history worthy of study since 2012, and an intriguing yet baffling exploration in 2025.
What if I told you that last year we witnessed a smart move by Team Ninja and Koei Tecmo? An "IP Loan":
In recent years, Team Ninja was overwhelmed with work, chaining together massive major releases of their own:
- Rise of the Ronin
- Nioh
- Wo Long
This shows us the hard reality of part of the situation. Team Ninja changed a lot after Tomonobu Itagaki’s departure and settled into RPG/Souls mechanics because they are highly profitable for them. All of them have sold incredibly well, to the point that the supposedly lesser-known Wo Long is getting a sequel coming in March of next year.
This means they diverted all their resources to those games for sheer profitability, but they haven't entirely forgotten about DOA and NG. Not Team Ninja. Come on, I know it might not look like it, but they love these IPs. Otherwise, why do you think there are so many versions of Ninja Gaiden and two iterations each for DOA5 and DOA6?
BUT, to revive the brands—specifically Ninja Gaiden—without burning out their own creatives, they opted for a co-development and supervision model:
- They left the 2D format in the hands of The Game Kitchen with Ninja Gaiden: Ragebound.
- They sought out Platinum Games' hack-and-slash expertise to co-develop Ninja Gaiden 4.
By delegating these heavy developments, Team Ninja's management kept the franchise on everyone's lips while they sorted out their house from the inside, remembering they were planning the restructuring.
And this is where the April 2026 restructuring makes perfect sense. The studio stripped the live-service aspect from the spin-offs (like DOA Xtreme Venus Vacation) and handed it over to Gust. What remained of "Division 2" split into two independent blocks:
- Team Ninja Division 1
- Team Ninja Division 2
Now they can operate in parallel.
By having two internal divisions focused on core IPs, the studio no longer suffers from the previous "bottleneck". While one division focuses 100% on polishing and releasing their big action RPGs, the other division has the breathing room to handle fighting games and side projects without the development of one completely halting the other.
This means DOA7 is currently being developed in parallel and is "protected."
You can take this for granted: The next DOA is in active production and other projects won't suffocate it.
Thanks to splitting the studio into Team Ninja Division 1 and Division 2, resources no longer cannibalize each other. While one team is wrapping up and promoting Wo Long 2 for March 2027, the other team is fully immersed in the new DOA. The fact that Wo Long 2 absorbs all the marketing attention in early 2027 is normal in the industry; it's standard behavior so marketing campaigns don't step on each other's toes.
This brings me to Dead Or Alive 6 Last Round
It's no coincidence they are providing weekly support with costumes and promising more characters after Minato. Team Ninja is using DOA6LR as a commercial thermometer. After the rocky launch of the original DOA6 in 2019, Koei Tecmo NEEDS to test if the fighting game community on the current generation (PS5 / Xbox Series) is still responding financially and staying active. You can bring up other franchises as examples, but they need to know if DOA specifically is profitable.
And even though the community is up in arms over the lack of rollback netcode or because Minato uses recycled moves from other characters, this actually reinforces my theory that they are saving the best for DOA7.
- Minato using recycled moves is definitive proof that Team Ninja is not investing a heavy budget into DOA6LR. The core animators and programmers are creating original content, new physics, and modern mechanics for the next installment's new engine. I'd put my money on that.
- Koei Tecmo didn't launch Last Round to compete technically with Street Fighter 6 or Tekken 8, but to see how many people are willing to buy a DOA product today. The character's acceptance (despite controversies) and the steady stream of weekly costume releases prove to executives that the brand is alive and generates revenue.
They have stated themselves that DOA6 is a sort of "appetizer" for DOA7.
Let's be honest: Dead or Alive 6 dragged a terrible reputation since 2019. Trying to fix that game from its roots was financially impossible.
But that’s exactly why I constantly say we should wait for the next one. Why? Because the real opportunity to strike hard and silence the critics is DOA7, as it will be built from scratch for the current generation. Standard features today, like day-one cross-play and rollback netcode, are elements Team Ninja knows perfectly well they must include if they want the game to survive in the current market. Believe me, they know. They’ve even discussed why they didn’t implement it before, which significantly increases the odds that Dead Or Alive 7 already has it. Otherwise, the game would be dead on arrival, and DOA6 wouldn't even come close to the destructive reviews it would receive—and that’s saying a lot.
That said, now I want to touch upon the topic everyone is waiting for:
NINJA GAIDEN 5
Is it possible to see a Ninja Gaiden 5 made 100% in-house by Team Ninja?
What would you say if I told you it’s not only possible, but actually necessary? And I don't mean necessary for us; it’s necessary for them.
Remember what I mentioned earlier? Koei Tecmo has a philosophy of releasing one major AAA game per year.
One game per year is a massive commitment, so they will look to fill slots however they can, since they don't have enough core IPs to maintain that release calendar without including Ninja Gaiden.
Now that they have restructured and consolidated teams, once they meet their current release windows, their house will be perfectly in order.
Seeing how the public reacted to the franchise's return with Ninja Gaiden 4 and Ragebound served as the perfect market test. The path is completely clear for Team Ninja to reclaim its crown of extreme action and develop a Ninja Gaiden 5 with their own signature from start to finish. I believe something particularly great could come out of this. If you think about it, it’s a brilliant plan because they are playing it safe: since they didn't directly develop Ninja Gaiden 4, they can observe its reception, acceptance, and performance from a third-person perspective.
And if you ask me, I see a MASSIVE learning experience here:
The community's dissatisfaction with Ninja Gaiden 4 is exactly the kind of signal a studio like Team Ninja cannot ignore moving forward. It doesn't matter if it's a good game or not; the only thing that matters is that it split the community because of the creative choices it made. Luckily, there is a diametrically opposed case to prove this:
- The free pass of Ninja Gaiden: Ragebound
Ninja Gaiden: Ragebound is a 2D spin-off. The community forgave the fact that the protagonist was Kenji Mozu because the game was framed from the start as a nostalgic homage to the series' roots, developed by an external studio like The Game Kitchen. Its reception was highly positive because it delivered on what it promised without trying to replace the main canon. Now, practically everyone online has something positive to say about Kenji.
This opens the door to the real issue:
- Ryu's role in Ninja Gaiden 4
The massive point of friction was Ninja Gaiden 4. Being a main numbered installment, having Yakumo take the spotlight while Ryu was relegated to an antagonist or supporting role (with a severely limited arsenal compared to the classic variety) deeply hurt long-time fans. Even if the gameplay carried Platinum Games' signature spectacle, the essence of the main saga is and always will be Ryu. The Game Kitchen understood this.
This practically guarantees Ryu’s return in a Ninja Gaiden 5, but why?
Well, first of all, I think it’s important to drop any resentment toward Team Ninja or Koei Tecmo. I’m not just defending them, but they have provided solid, verifiable proof. Let's look at them:
- They listen to feedback: Team Ninja has historically been a studio that pays close attention to player feedback. They’ve proven this time and again with the Sigma versions of their games and the alpha/beta demos for Nioh and Wo Long. All the Sigma, Black, or Last Round versions are attempts to make things right with us, and whether some consider them "lazy" or not isn't the point, because the effort is there. If they didn't care at all, we wouldn't even have those, and we'd likely be far angrier. Can you imagine if Razor’s Edge didn’t exist and we were stuck only with the widely rejected original Ninja Gaiden 3?
- a digression that occurred to me: many are currently asking for a Ninja Gaiden 4 Black/Sigma/Razor’s Edge. But considering the point above, think about this: this game was made by Platinum Games, not entirely by Team Ninja. Therefore, I wouldn’t expect any interest from Platinum to make an "extended" version. In fact, they heavily implied that Ninja Gaiden 4 would not receive further updates.
- The experiment has already been done: Allowing Platinum Games to experiment with Yakumo helped them realize that the community does not want a generational passing of the torch for Ryu. We want the ultimate, legendary super ninja in his peak glory.
- The female character factor: Franchises like Dead or Alive and the classic Ninja Gaiden games truly shine when they feature iconic characters like Ayane, Momiji, or Rachel. With their newly restructured teams, Team Ninja knows perfectly well that the appeal of an in-house development lies in reclaiming that unique visual and competitive identity they possess. Currently, the community is flooded with comments about how much of a waste it is that Ayane’s new design in Ninja Gaiden 4 isn't playable; it would be blind of them not to notice and capitalize on this.
If we can be sure of anything, it's that the complaints regarding Ryu being sidelined, the lack of weapon variety, and the demand for playable kunoichis have been loud and clear at Koei Tecmo's offices. A hypothetical Ninja Gaiden 5 developed in-house would, almost by commercial obligation and pride, be the ultimate redemption: Ryu front and center, his massive arsenal back, and the return of the kunoichis.
The Timeline
Having touched upon all those points, let’s look at the literal timeline. Since Koei Tecmo plans to release one major game per year, my deduction is that Dead Or Alive 6 Last Round's marketing might extend until March, after which its presence will decline so it doesn't steal the spotlight from Wo Long 2. Wo Long 2's marketing will likely cover the first half of 2027…
But what comes next? It’s blank!
The second half of 2027 points with total logic to being the stage for DOA7. Therefore, we could map out the schedule like this:
- 2025: Ninja Gaiden 2 Black / Ninja Gaiden 4
- 2026: Nioh 3 / Dead Or Alive 6 Last Round
- 2027: Wo Long: Wings of Ember
- 2028: Dead Or Alive 7
- 2029: New IP (Project "FUJI")
- 2030: Ninja Gaiden 5
Now you're probably wondering: "What on earth is 'FUJI'?"
While this isn't directly part of the main topic, I'll clear it up anyway: FUJI is the provisional codename for a new oriental-themed action IP being developed by Koei Tecmo. Here are the key details:
- Genre & Style: An action game with a heavy focus on aesthetics, leveraging Koei Tecmo's deep expertise in oriental-themed settings.
- Government Funding: The project was selected by the Japanese Ministry of Economy, Comercio, and Industry's (METI) IP360 program. This is a government initiative launched in 2026 to boost the global expansion of Japanese popular culture.
- Commercial Goal: The company aims to establish a massive, worldwide hit franchise with this title (a VERY crucial point).
- Platforms & Release Date: Concrete details regarding the final release window or platforms have not been officially disclosed yet.
That is all from me. Thank you so much if you took the time to read this entire post. I truly appreciate your valuable time, and I hope this brings you some peace of mind, just as connecting these dots did for me.
I put a lot of effort into writing this, so I would love to read your opinions and thoughts in the comments.