Looks like Danny DiMarzio was right:
http://www.martialartsplanet.com/forums/showthread.php?t=79645
"
Authentication and rejection of Ninjutsu from Japan
The Iga-Ryu Ninja Museum states that Jinichi Kawakami is the last and only heir to authentic Ninjutsu:
http://iganinja.jp/en/faq/index.html
They also state he is called the "Last living modern Ninja":
http://iganinja.jp/en/exp/learning.html
Banke Shinobinoden (affiliated with Jinichi Kawakami) state that they are the last practitioners of historically authentic Ninjutsu left in the world:
http://www.eonet.ne.jp/~bankeshinobi/
(follow the English link)
The Book on Banke Shinobinoden's website also confirms this:
http://www.eonet.ne.jp/~bankeshinobi/news.html
On the same webpage it shows a link for the government of Shiga Prefecture, Japan. The link shows Banke Shinobinoden doing a seminar for Shiga Prefecture.
http://www.pref.shiga.jp/h/m-doboku/konanIC/ibento.html
The Iga-Ryu Ninja museum is a public museum. It's purpose is to study and preserve ancient Japanese documents related to Ninjutsu. Part of the museum is for tourism but the other part is actually a real museum. They have many ancient documents related to authentic Ninjutsu. Again, they state that Jinichi Kawakami is the last inheritor of historically authentic Ninjutsu.
*The people you might meet at the museum demonstrating techniques and such are just actors. They are in no way connected to Banke Shinobinoden or Jinichi Kawakami. Banke Shinobinoden is a completely different entity.*
Banke Shinobinoden is well-documented in Japan.
Why the confusion over who carries on historically authentic Ninjutsu?
Why do so many people (outside of Japan) seem to believe Masaaki Hatsumi is related to authentic Ninjutsu? There has never been any proof of this..........why so much confusion?"