An arcade fighting game adaption of Hokuto no Ken was in development in the mid '90s, but went unreleased for unknown reasons. There is very little information about this cancelled game, and from I can tell its existence was first revealed by the Undumped Wiki. A two page document, which has a couple of screenshots, are currently all we have about this lost title. To make things worse, trying to find information about it is very difficult -most searches will show results for either Punch Mania or the Arc System Works game. Adding Banpresto on a search won't help matters, as you'll find results for the Saturn/PS1 game they did release in 1995. And then the 10 Big Brawls subtitle was a re-use of the Game Boy game's subtitle.

From what we do know, the game was developed by Banpresto, and was going to be released in arcades. It's not known what arcade hardware the game would have been on. The game would have had 2D graphics, and from the names on the document, playable characters would have potentially included Kenshiro, Rei, Raoh, Toki, Mamiya, Shuu, Uigher and Madara. Some of these choices are a bit surprising -Shuu over Souther? Uigher over Shin? Madara is also a very minor character in the story, but having a big monster like him playable would have been cool. The only confirmed playable characters in the screenshots are Raoh, Shuu and Mamiya.

From the looks of it, this was your usual fighting game -lower your opponent's life gauge bar to nothing to win. Beneath each character's life gauge is another gauge, presumably this was a super move meter, although that may not be the case. The stage is the same in both gameplay screenshots and appears to be based on the Hokuto Renkitouza, which was where Kenshiro and Raoh had their final battle in the manga. If you look closely you can just about make out Raoh's horse, the Black King, standing to the right of the stage.