Grasshopper Manufacture (known for No More Heroes) is developing a new game, Fatal Frame, and Nintendo is actually helping it. Here's a translation of the original French report on Wiiz.fr:
"Tecmo organized a press conference that ran for a few hours to present its next production to Japanese journalists. The game announced at the presentation was Project Zero (Fatal Frame) on the Wii, supplemented with images.
The production of this new survival-horror is supervised by Nintendo and developed by Tecmo and Grasshopper Manufacture (No More Heroes).
No further information was revealed for this title other than its release is planned for summer 2008 in the Japanese territory. Its development will be followed very closely on Wiiz.fr..."