Starting off in a warehouse behind the statue, you must make your way straight up here. To do so you'll need to move from left to right and back again, using the boxes to leap up from. Most of the enemies here are one's you've encountered already, and it is next to impossible to miss any of the hostages.
In addition to the soldiers and ninjas, there is one new enemy however: a green warrior who will pretty much kill you if he touches you. Thankfully he can't block shurikens, and only takes one hit to take out.
There are no hostages to save in this second section. Instead you are on an elevator, and lots of ninjas will keep appearing and dropping off onto the platform with you. All of these enemies take a least two hits to kill, and they can deflect shuriken. You are going to have to let them get close to you so you can use a close-range attack. To make things worse, the attack helicopter from the previous stage will also make a couple of passes over the platform. Jump over the shots it fires to avoid them.
Yamato is useless in this section as he can't attack the ninjas, so you've basically got to rely on your own timing. Just before the attack helicopter makes a second pass, four red ninjas will appear, try to lure them to either end of the platform so they're all close together. This will let you attack them all at once and knock them back, so you'll have time to avoid the helicopter's shots. The exit to this section is right at the top of the statue.
Blade is the boss of this stage. She uses buzzsaws to attack, and can make great leaps to get from one side of the platform to the other quickly. When she lands, she will throw out one of her buzzsaws. The buzzsaw will roll across the platform, and you'll have to jump over it to avoid being hit.
Her weak spot is her head, and you can hit her when she is about to throw out a buzzsaw. It is also possible to hit her as she lands from a jump, but this is more difficult. All other times she will use one of her buzzsaws to protect her face.