Devil's Third, despite publisher concerns and a lack of updates regarding its development.
"It's going along really well," Itagaki said in an interview translated by Polygon's Kevin Gifford. "We're discussing things with publishers; we're continuing to expand on and deepen the gameplay. That's about the level we're at."
Devil's Third was announced in 2010, and little was revealed about its gameplay in the years since. Devil's Third's intellectual property rights reverted to Valhalla after former publisher THQ failed to find a buyer following its dissolution last year.
"It's like we're continuing to go along under the surface, waiting for the right timing to launch our missiles," Itagaki said, addressing the scarcity of details regarding the project. "Besides, if we revealed where we were hiding under the surface, it wouldn't be much of a war, would it?"
Itagaki notes that Devil's Third will not be shown at E3 next month, due to timing issues.