There have been rumours of a PSP Ridge Racer sequel for a while now, with box art appearing on several gaming forums, and Famitsu has now confirmed that the game will be arriving in Japan on PSP on September 14, 2006. Ridge Racers 2 (as it will be known in Japan, likely to simply be Ridge Racer 2 in Europe) will include a new Arcade mode, plus Duel and Survivor modes.
World Tour mode, Time Attack and Wireless Battle all return in the sequel, although sadly it appears wireless is again limited to ad hoc so no online play. 18 courses will be included, each made from elements seen in previous Ridge Racer tracks, but not before used in a PSP Ridge Racer. The game's developer also mentioned that there'll be six car classes, each with six cars, from which three will be unlockable.
Ridge Racers 2 is scheduled for release in Japan on September 14, so hopefully a European release will make it out in time for Christmas.