The next game in the Corpse Party franchise will be releasing in North America on the fifteenth of January for $19.99. Game's composed of eight chapters, two of which are continuations of the original game's true ending. The rest are standalone stories which are a mix of alternate universe ones based on one of the original game's bad endings and backstory chapters.
An article on the PS blog has an introduction to each of the game's chapters (spoiler-free).
Like I said in the other Book of Shadows thread, I enjoyed the previous game for what it was, but I'm not sure I'd be into playing something like it again, at least not for $20. I do want to know what happens next in the story, though, and the first-person perspective instead of the third-person one might make the gameplay more tolerable for me, so I'll consider it.