Announced earlier this month, Tecmo Koei have announced today that the third entry in the spin off franchise of Dead or Alive, Dead or Alive Xtreme 3 will be be developed for the PlayStation 4 and PlayStation Vita. The PS4 version will be referred to as Dead or Alive Xtreme 3: Fortune, while the Vita version is called Dead or Alive Xtreme 3: Venus with their own set of unique features.

Not only that, while the game was announced as for the Asian market only, Tecmo Koei has stated that if demand is high enough they will look into possibly localizing the game for the West. No release date has been announced at this time.

Dead or Alive Xtreme is a popular fighting game spinoff series. This series, where beautiful women enjoy fun activities in a southern island paradise, has a new installment in development for the PS Vita and PS4! In the September 3 issue of Weekly Famitsu (on sale August 20), the Vita version, called Dead or Alive Xtreme 3: Venus, and the PS4 version, called Dead or Alive Xtreme 3: Fortune, are revealed, along with an interview with producer Yosuke Hayashi.

Highlights from the interview excerpt on Famitsu’s website (from Hachima Kikou):
-DOAX3 will be sold in Asia, including Japan. If demand is high enough, we think there will be a localized version for North America
-The game will use a tuned-up version of DOA’s infamous “Yawaraka (Softness) Engine” called “Yawaraka Engine 2.0”
-The Vita version will use “Yawaraka Engine Light,” which is customized for the platform and includes touch panel and gyroscope functions
-As with the previous games, you spend many hours with the series’ favorite characters. If you thoroughly spend time with one character, you can get various rewards.
-A photography mode is included
-The game’s suntans have been powered up as well.
-Not every character in this game is female!
-On the 20th of August, custom themes with the 15 main heroines will be distributed, and the 9 most downloaded characters will be in the game. Even Kasumi, who is quite popular, won’t make it in the game if she’s not one of the top 9.
-No plans for DLC.

Source

Thank you, Will Whitehurst for the translations.