Shin'en announced its new status as an official Wii developer via the company's Web site. The studio did not announce any projects at this time.
Shin'en is best known for its work on the Nanostray and Iridion series of vertical-scrolling shooters, in addition to a number of titles based on licensed properties. The company also offers audio tools and sound engines for Nintendo DS, Game Boy and N-Gage for use by other developers. Wii marks the first foray into home console development for Shin'en.
More info: http://www.shinen.com/home/
This isn't bad news at all.