On February 14, 2008, at the AOU Amusement Expo, Sega AM2 announced a revision to Virtua Fighter 5 known as "Virtua Fighter 5 R" (considered to be an equivalent to Virtua Fighter 4's Evolution update). This revision is set to come out later in 2008 for the Arcades and was announced to feature brand new stages and a new character, who is currently referred to as "Karateka". Also announced was the return of the sumo wrestler, Taka-Arashi, making his first appearance since Virtua Fighter 3. It is not known when or if the consoles will receive this new version.

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