Koei Tecmo's Secret New Action IP Leaked by Japan's Governme

Five unannounced game projects from major Japanese studios, all revealed not by a flashy showcase or a carefully timed press release, but by a government subsidy list. Japan's Ministry of Economy, Trade and Industry (METI) published the approved projects for its IP360 funding program, and buried in the spreadsheet-style listing was a Koei Tecmo entry for a brand-new action IP codenamed FUJI. Automaton West first spotted the listing, which describes the project as "leveraging Koei Tecmo Games' expertise in oriental-themed visuals and action games" with the goal of "a worldwide hit and broad IP expansion starting from the game."

There's comedically on-brand about a transparency initiative designed to promote Japanese cultural exports accidentally scooping every games outlet on the planet. METI launched IP360 earlier this year to fund new intellectual property across manga, anime, and games, with the stated goal of pushing overseas sales of Japanese content to 20 trillion yen by 2033. The program selected projects in a "large-scale production" category, and Koei Tecmo's FUJI made the cut alongside entries from Arc System Works (a new 3D fighting game IP), Konami (a new console game), Square Enix (localization expansion), Applibot (an action game called Project Needle), and SEGA's already-announced Virtua Fighter Crossroads.

What We Actually Know

Not much, frankly. The FUJI listing is a single paragraph of bureaucratic description. It confirms a new IP rather than a spinoff of an existing franchise, an action focus, and an emphasis on East Asian visual style. Between Nioh, Wo Long, Dynasty Warriors, Samurai Warriors, and Rise of the Ronin, the publisher has built an entire identity around historical and mythological Asian settings paired with action combat. I'm curious whether FUJI will carve out new territory or end up feeling like another variation on a theme the studio already knows by heart.

The timing is interesting. Koei Tecmo just announced Wo Long 2: Wings of Ember at the Xbox Games Showcase earlier this month, targeting early 2027. It also has Attack on Titan 3 in the pipeline. FUJI appears to be a separate effort entirely, positioned as a potential new franchise pillar rather than a sequel or licensed project. The IP360 listing specifically mentions "broad IP expansion," suggesting Koei Tecmo is thinking about media beyond games from the outset.

Koei Tecmo has a decent track record with new IPs in recent years. Wo Long: Fallen Dynasty launched in 2023 and was well-received enough to earn a sequel. Rise of the Ronin landed in 2025. Wild Hearts was more of a stumble, but the studio keeps swinging. If Team Ninja is behind FUJI, and the action focus strongly implies they could be, that's a studio riding high off the back of Nioh 3's critical reception.

No platforms, no release window, no details beyond a codename and a vague description. FUJI could be years away. But it's receiving government funding as part of a program specifically designed to create globally competitive new franchises suggests Koei Tecmo is treating this as a major bet, not a side project. We'll likely hear nothing official until Wo Long 2 ships, at the earliest.