As part of the No More Heroes 3 launch livestream, Suda51 discussed the future of No More Heroes. During the livestream he provided a thorough answer regarding the potential future of the IP, along with revealing that No More Heroes has returned to the hands of Marvelous. This means that Grasshopper Manufacture no longer has the rights to work with the IP, and their involvement in any future No More Heroes titles remains uncertain. [Thanks, IGN Japan!]
However, this is what Suda51 had to say in full in relation to any future No More Heroes titles:
So the initial start of No More Heroes was a cooperative venture between Spike Chunsoft and Marvelous, and obviously Grasshopper. Part way through the history of No More Heroes, Spike Chunsoft left the general group, and it was just Marvelous and Grasshopper. But Marvelous possesses the IP to No More Heroes, so for No More Heroes 3 Marvelous was extremely cooperative and basically gave Grasshopper the IP to work with for five years.
We were really thankfully for the opportunity To revisit the series that I love. Whether or not there will be another title in the No More Heroes series.. I can’t say yes and I can’t say no. The IP has returned to Marvelous, so no one really knows what is going to happen. But that’s all I can say.
Additionally, Suda51 released a statement alongside the official launch of No More Heroes 3, saying “goodbye” to series protagonist Travis Touchdown. In the statement he also revealed the reason for the previous title of No More Heroes 3, stating that there was a reason it was originally intended to be called No More Heroes 3 FINAL BOUT – All-Out Galactic War!
No More Heroes 3 is available for the Nintendo Switch.