Saw this mentioned here first: http://personacentral.com/atlus-begins-development-new-ip-fantasy-rpg-live-stream-announced-december-23/

"Atlus has announced that they have formed a new internal production studio within the company called “Studio Zero” that is developing a brand new IP fantasy role-playing game.

This new game will be neither “Persona” nor “Megaten,” but a completely new RPG project from the ground up."

...

"Additionally, there will be a Niconico live stream on the project on December 23 at 8:00 PM JST (4:00 AM PST / 7:00 AM EST).

Before the show starts, Atlus artist Shigenori Soejima will be creating a live illustration just for this program."

A translation of the comments from the director, Katsura Hashino, and further details on the project can be found in the source I mentioned.

I think this sounds super exciting! The medieval fantasy setting in RPGs is certainly well-trodden ground, but I'm very curious to see what these guys can bring to the table!

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UPDATE: The latest issue of Famitsu leaked online, as it always does, and brought along some new information on the project. Here is a Gematsu article on it. Some things of note:

• Shoji Meguro (composer on a myriad of Atlus' titles, including the Persona games) has been confirmed to be a part of the team.
• Atlus will begin recruiting lots of more people for the project after the live stream on December 23rd.
• The magazine will have more concept art of the game.
• Release window, pricing, and supported platforms are still under discussion, but Hashino says they are "making this for those who like home console games and love Atlus games."
• Atlus is still developing other titles behind the scenes, and that includes the Persona series.

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UPDATE NO.2: Scans of the Famitsu issue in question are out, and they can be seen in all their high resolution glory here: http://personacentral.com/first-project-re-fantasy-feature-high-res-famitsu-scans/

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UPDATE NO.3: The following are some of the highlights from today's (December 23rd) "development launch" stream:

• Atlus' staff explained their goals for the project. Here's Atlus USA's press release on the matter.
• Fellow game developers (and fans of the company's titles) showed their support for Atlus' coming journey. (Guests included folks such as Taro Yoko, Kazutaka Kodaka, and Hiroyuki Kobayashi.)
• A high-concept teaser was released. (All in Japanese, but the aforementioned press release sums up what they're saying.)
• Meguro's first piece of composing for the game was played during the stream. Here it is on Youtube.
• Atlus has now started recruiting more people for the project.

I'm pretty burned out on fantasy, but I'm certainly looking forward to a new Atlus IP, so I'm in.

I'm game for at least trying whatever these guys make, so count me in.

Definitely keeping an eye on whatever these guys are working on. I wonder if Shoji Meguro would do the music for it?

Havent been disappointed on a Atlus RPG yet! Even got me into dungeon crawling games. Bring it.

Hooray for new IPs!

Atlus knows that they're doing so yes.

I can't help but think about what possible implications this could have for Persona. Is this a sign that they are taking a Persona 4 like approach and possibly interested in exploring spin-offs to expand that universe for a while? Or a FES/Golden edition for Persona 5, before making Persona 6? Or maybe a Persona 6 will just be held by a different director and Katsura Hashino wanted to step aside/direct something that wasn't Persona.

I'm interested in whatever the "Persona Team" does. It's just that modern Persona is my favorite franchise and I hope this is something new and in addition to what Atlus is working on, so that they can continue to make whatever weird projects they have or whatever comes after Persona 5.

Hmm, I don't know.

On one hand, this could perhaps be a great chance for him to do some more classical, and/or orchestral stuff.

But then on the other, if they're truly trying to create something that's different from the later Persona games, I think that having him on music would make that task even tougher, since Soejima is already on board. What I mean is that the games' styles might be too similar for what they're trying to do. Though you'd hear no complaints from me!

Who knows! Maybe we'll get an answer from the live stream that's happening in a couple of days.

Ok cool. See you in 4 years.

@cettu: I think just the fact that it's more of a traditional fantasy setting can already set it apart from the Persona games, forcing Meguro to abandon the jazz and work with other types of music. And it sounds like it's a completely separate team from P Studio. But yeah, definitely looking forward to the livestream!

I'll be happy to play it when it comes out in the west 10 years from now.

Hopefully there is a twist because man do we not need anymore JRPG's with knights and all that. Unless they're Rocket Knights.

@cettu: as cool as the announcement is, I'm just surprised that no one else used the URL of rpg.jp until now.

Persona sounds super cool but I've never ha s the ability to play it. This sounds great! Hopefully they being it to a platform I can play on!

@blackichigo: Yeah that does damper it a bit.

When is Kaneko going to get to do something again...?

Exciting! It probably won't be out for a long time but then again I probably won't finish Persona 5 for a long time.

@radish: Yeah as much as i love the persona team they sure do like to take their time with games, for better or worse.

And yeah somebody needs to give that guy work.

Always good to see a proven team be able to do something new. But yes it sounds a long ways away from release.

Atlus and new IP you say? I'm in.

Watching Shigenori draw is a treat. One of my favourite artists.

I am wondering however, if they're ever going to let the director of Radiant Historia do something again. It's only been SMT/Persona and Etrian Odyssey out of them since Historia came out.

Edit: Oh damn, Sugita and Mafia Kajita are set to be on the stream together. Hopefully someone gets a subbed version of the stream up. Should be hilarious. Unless they decide to act professional.

*please don't be a mobile game, please don't be a mobile game*

It sounds like this is a completely new team being led by the Persona director, not a new project for the Persona team. It specifically says it's a newly created internal Atlus studio. It would be crazy to announce a new game from the Persona team already considering they just finished Persona 5. That article makes it sound like this game has been in development since 2014.

@probablytuna: Huh, now wouldya look at that! http://personacentral.com/first-details-project-re-fantasy-atlus-new-fantasy-rpg/

Famitsu leaked early (as always), and so we've already got some more information on the project, including this:

"Notable P Studio members Katsura Hashino (producer and director), Shigenori Soejima (artist) and Shoji Meguro (composer) are involved with the development of Project Re Fantasy at Studio Zero."

...

Regarding Soejima and Meguro’s involvement on the project

Hiraoka: “Soejima is an indispensable member of the Persona series staff, but we don’t want his work to stop there. Meguro is the same. Both will continue to participate in the Persona series in the future.

“We’re steadily developing other titles behind the scenes, including the Persona series. We plan to announce future titles in the new year, without keeping you waiting too long.”"

Good news all around!

@radish: Just let Kaneko stay in the flower fields. He's earned his rest.

@cettu: DREAM TEAM

The Famitsu scans are out! Check out the rest & the high resolution versions here: http://personacentral.com/first-project-re-fantasy-feature-high-res-famitsu-scans/

A fool's journey begins.

The redhead doesn't read to me as especially dumb-looking, but I guess we'll have to wait and see.

The live stream has started!

You can watch it on Freshlive.tv, or on Niconico. (You need an account for the latter.)

https://twitter.com/MysticDistance is translating some stuff on the go, if you'd like to follow along. He's also recording the stream so it'll be available later in its entirety.

Soejima painted a piece during the pre-show:

Here it is finished. And in other sizes.

EDIT: Some highlights from the stream:

• Atlus' staff explained their goals for the project. Here's Atlus USA's press release on the matter.
• Fellow game developers (and fans of the company's titles) showed their support for Atlus' coming journey. (Guests included folks such as Taro Yoko, Kazutaka Kodaka, and Hiroyuki Kobayashi.)
• A high-concept teaser was released. (All in Japanese, but the aforementioned press release sums up what they're saying.)
• Meguro's first piece of composing for the game was played during the stream. Here it is on Youtube.
• Atlus has now started recruiting more people for the project.

And so the waiting begins! Thankfully, Persona 5's upcoming release softens the blow somewhat!