It looks like Team Ninja has its eyes set on a new action RPG game and it's nothing short of ambitious.

Team Ninja director and president Fumihiko Yasuda had high praise for their next game, an exclusive title for the PlayStation 5.

Here's an excerpt from Yasuda's announcement on the PlayStation Blog:

Rise of the Ronin is a combat focused open-world action RPG that takes place in Japan at a time of great change. It is the very end of a 300-year long Edo Period, commonly known as "Bakumatsu”. Set in the late 19th century, Japan is facing the darkest of times as it struggles with its oppressive rulers and deadly diseases while western influence permeates as civil war continues to rage between the Tokugawa Shogunate and the Anti-Shogunate factions.

Here in this time of mayhem, you embody a Ronin character, a warrior bound to no master and free to make choices of its own. Rise of the Ronin is a new Team Ninja experience that will immerse you in an historically inspired world while bringing together its renowned combat action with Katanas and the likes, with new firearm weaponry that depicts the unique personality of its time period.

According to Yasuda, Team Ninja has spent the better part of the past decade (seven years, to be exact) working on Rise of the Ronin. Judging from the trailer shown at the surprise State of Play showcase yesterday, it's time well spent.

The combat-focused open-world journey looks a lot like the lovechild of Breath of the Wild, Assassin's Creed, and Nioh. If anything, Rise of the Ronin should act as a facsimile for Assassin's Creed Red, which will be the next Assassin's Creed game after next year's Mirage.

In addition to its cool and stylish aesthetics, Koei Tecmo is promising a "multilayered story" where players can brandish their own "brand of justice and motivations."

We'll find out more about Rise of the Ronin as we inch closer to its release date in 2024.

Speaking of Koei Tecmo, the Japanese gaming giant recently partnered with Electronic Arts for a Monster Hunter rival led by Omega Force that will be published under the EA Originals banner. This is in line with Koei's earlier statement that it has several big reveals planned for the rest of the year. Team Ninja has already revealed Wo Long: Fallen Dynasty earlier this year.