Corpse Party: Blood Covered…Repeated Fear launched in Japan last July, and a recent ESRB posting seems to indicate that the game is being localized in some capacity. A rating for Corpse Party on 3DS has appeared, been given an ‘M’ rating and will seemingly be published by XSEED Games.
It is unknown at this time if the game will make it to North America, but here is the full description from the ESRB:
This is a survival-horror adventure game, in which players help high-school students escape from a haunted elementary school. From an over-head perspective, players explore the school and interact with various objects and characters. Some interactions can lead to sequences that depict acts of violence: a character repeatedly stabbed with a pair of scissors; a character stabbed with a knife. Violence is also described in the text (e.g., “The third victim was stabbed in the left eye an indeterminate number of times”; “Buckets of blood spilled out from my head. I’m sure it was hell to clean up later…”). Blood is frequently depicted near corpses and when characters are injured. The game includes some suggestive references in the dialogue (e.g., “Big t*ts does it for you, eh”; “If you don’t, I’ll email you a beautiful crotch shot—so watch out; “He grabbed me and forced me down, then began unbuttoning my blouse…”). In one scene, bathing characters are depicted with soap bubbles covering their chests and genitals. The words “f**k” and “a*shole” appear in dialogue.