On a post on NeoGAF, someone pointed out a Japanese trademark for the property. However, nothing is known about the filing except that it is for something new and not just a renewal. It's up in the air whether it's for a new console title, a mobile title, or even a remaster.
You might remember the recent teaser site that Capcom has posted up. It's been presumed that the site is there to promote a new Sengoku Basara (Devil Kings) game. However, with some recent changes to the site, speculation has now shifted to the possibility of it being related to a new Onimusha game.
Silent Hill director Christopher Gans is set to work on an Onimusha film, but sadly, the project has hit a few snags. Evidently, the cause is indirectly linked to the death of actor Heath Ledger, who was working with the movie's producer around the time of pre-production (which is now completed). The death caused a pushback in production dates, eventually leading to a desynchronizing of schedules.