Mistwalker’s New Game: Where Is It?

Mistwalker, the studio headed by former Final Fantasy frontman Hironobu Sakaguchi, has been unusually quiet in recent months.  It’s hard to believe that Lost Odyssey is already a year old and nothing new has been announced.  With the exception of some Blue Dragon-related DS shovelware, the youngling Japanese RPG factory has yet to announce, or release, a new title in over a year.  In fact, the studio has actually CANCELLED one of their RPG projects, Cry On, over financial concerns levied by the publisher.

So if this is all true, what is Mistwalker up to now?  Lost Odyssey is still, to date, the only XBOX 360-exclusive Japanese RPG to achieve favorable sales in the US.  Will Sakaguchi opt for a sequel, or is Microsoft even willing to make the investment, for that matter?  Will their next title be more handheld fare, or will they opt to go multi-platform to increase potential sales, like rival studio Tri-Ace?  Maybe Sakaguchi will surprise everyone by announcing an entirely new game.  There’s a myriad of possibilities at hand for Mistwalker.

It should be noted that Microsoft has a press conference in Japan dated for tomorrow; while their current Japan-focused titles like Magna Carta 2 and Ninety Nine Nights 2 are shoo-ins to appear there, is there any chance for Sakaguchi to announce something new?  We certainly hope so.