Grasshopper already working on another action game
Suda shared the above concept art by No More Heroes (and Fire Emblem: Awakening) character designer Yusuke Kozaki, for Grasshopper's first game to be conceived and developed as part of Gungho Entertainment (and now part of Softbank!)
"There is a base for our specialty, the slash action games we've made so far," Suda told Famitsu (translated by Gematsu). But with Gungho's power, we want to put in our knowhow in ways we haven't done before. We are also considering developing for not just offline devices, but online devices too."