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I feel the OP lacks information, though. Feel free to add the following for new visitors to the thread:
A SEGA LEGEND RETURNS ON NINTENDO 3DS
Shinobi is Back in Full 3D After Eight Years
LONDON AND SAN FRANCISCO – (May 26, 2011) – SEGA Europe Ltd. and SEGA of America, Inc. today announced Shinobi exclusively for Nintendo 3DS. Developed by Griptonite Games, Shinobi is the long anticipated return of the fan favorite series and includes the classic side-scrolling action gameplay players have loved since the original. Coming to stores in September 2011, Shinobi introduces several exciting new features such as StreetPass and a large assortment of achievements and challenges to unlock.
“For years the fans have been asking for a new Shinobi,” said Gary Knight, Senior Vice President of Marketing of SEGA West. “With Shinobi on Nintendo 3DS we are able to answer their prayers and bring this legendary series to the next level.”
Shinobi tells the story of Jiro Musashi, the leader of the Oboro clan and father of Joe Musashi, the hero of the first iterations of Shinobi. Players will become a true ninja legend by mastering a brand new combo system switching between melee, ranged and acrobatic attacks. They will also need to rely on Jiro’s ninja magic to get an advantage over their enemies and get out of tight spots.
Shinobi will be released for Nintendo 3DS in September 2011.
That press release, plus screens and other fun, can be found here.
So, yeah, it's a prequel. Given the time jump between releases, I'd have expected Joe Musashi's son, rather than his father, but this is cool.