Yaiba: Ninja Gaiden Z, the zombie-centric Ninja Gaiden game, is on display at E3, and I can confirm one thing: there is at least one incident of panties raining from the sky.
In the pre-alpha E3 demo, cyborg-ninja protagonist Yaiba throws a zombie into a truck. That zombie then drives said truck into a panty shop (shaped like a pair of woman's legs). The panty shop explodes, and panties come out of it, creating some sort of meteorological anomaly around women's underwear.
So, hey, there's that. It's almost like Team Ninja is involved with this game or something!