To commemorate Virtua Fighter's 10th anniversary, Sega-AM2 announced development of Virtua Fighter Quest, which is currently just a working title. The game was announced at Sega's GameJam event.
Yu Suzuki went on record saying that they're aiming for the game to appeal to gamers of all ages. The exact genre of the game is currently unclear, but Suzuki stated, "We plan to put adventure and RPG elements into the game. We intend to include all the characters from the series, not just some. And based on this plan documents in my hands, I can say right now that the A button is for kick, and there is a health gauge too."
"Virtua Fighter Quest" currently has a 2003 release date for the GameCube in Japan.