Thier is some more information on Ninja Giaden Z. To begin with the Z does stand for zombies as Kenji inafune approached team ninja about introducing a zombie killing ninja. Yaiba for those who don’t know is a ninja who was slain by Ryu. This story does take place in the Ninja Gaiden world. Kenji tells eurogamer that the game should feel familiar to Ninja Gaiden fans as he one himself. I guess that his way of saying the game play will resemble Ninja Gaiden. Also the game was made on the unreal engine and the American developer Spark unlimited is on board. Also Kenji suggested that the game is being made with current consoles in mind. So Ninja Gaiden Z will most likely be multi platform game. For information here are the two articles focusing on the game.
http://www.eurogamer.net/articles/2012-09-19-ninja-gaiden-z-targeting-current-generation-consoles
http://www.siliconera.com/2012/09/23/yaiba-ninja-gaiden-z-being-developed-on-unreal-engine-3/
As always thank you for reading.