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Persona 5 is an RPG currently in development at Atlus. The game has yet to be shown publicly, and the staff at Atlus has thus far remained tight-lipped on the game's content and target platforms. Series director and producer Katsura Hashino has stated that he wants to "add things that are being expected of the series" as well as "change things that can be changed within those boundaries."
In September of 2009, Shoji Meguro was listed on Sony's site as the producer for the game. Meguro has served as the music composer for all entries in the Persona series to date and also served as the director of the PSP remake of the original Persona. His official capacity in regards to development on Persona 5 has not been officially revealed, though it is expected that he will once again compose the soundtrack for the game.
In interviews upon the release of Catherine, Meguro has stated he'll be able to discuss the RPG that he and Hashino are developing following Catherine's release. This RPG is presumed to be Persona 5.
In a recent Famitsu interview discussing developers' aspirations for the new year of 2012, it was stated by Atlus that "that title you’ve been waiting for may be announced." The title in question is presumed to be Persona 5.
Shortly after the release of Persona 4 Arena (August 2012), Katsura Hashino stated that the Persona Team was now fully focusing on Persona 5, and that master artist Shigenori Soejima has submitted several sketches for the next numbered entry in the series.
Interviews had stated that the Persona team had developed Catherine as a testbed for Persona 5, however it has been said that they will not be using the Gamebryo engine for Persona 5, instead opting for an engine they created specifically for the title.