Folklore is an action RPG exclusive to the PS3.  It was released in 2007 to critical acclaim but failed to sell, moving only about a quarter of a million copies.  In a recent interview, Game Republic founder and lead designer behind Folklore Yoshiki Okamoto discussed some of his current projects and aspirations, including a Dragon Ball title. A sequel to his popular action RPG was not among them.

When asked specifically about the title, he responded "Unfortunately, we're not making a sequel for either of those games[Folklore or Phantom Brave]".  He also revealed another interesting bit, saying "We had talked about a PSP version for Folklore, but we've since ceased those discussions".  The decision to not move forward with the IP is an unfortunate one for him, remorsefully admitting "It makes me a little sad, but that's just the way it is".