According to a friend this is a theme to an haunted ninja dojo. It kinda has some hauntedness to it but not a whole lot.
This is one of those tunes that kinda started great and then I ran out of ideas as far as melody goes for the next part which is kinda empty. It does sound cool though, at least that is what I think. Maybe one day I'll get ideas on what to do with it, or perhaps someone of you who might be listening can come up with something ...? I am all ears in any case :P
Tonal sounds are YM2612/3438 and the PSG, with a bit of sampled bass instrument. Drums are all samples.