Crystal Sky, one of the production companies who produced the 2010 film, is planning a prequel titled, Tekken: Rise of the Tournament. It is being planned as "part of a franchise of movies" says Crystal Sky CEO Steven Paul.
Dwight H. Little (Anacondas, Halloween 4) directed the film which has nothing to do with the much superior computer animated film from Digital Frontier, Tekken: Blood Vengeance.
I didn't like the 2010 live action film at all but maybe this prequel will be a bit better. We will have to wait and see.
Source: ANN