According to a leak of the upcoming issue of Famitsu magazine, developer Atlus has confirmed that the studio is hard at work on Shin Megami Tensei V and their new IP currently known as Project Re Fantasy. The statement was made through New Year cards from numerous Japanese game developers in which Atlus said: "Both Shin Megami Tensei V and Project Re Fantasy are under active development." The next mainline entry of the Shin Megami Tensei series was announced back in January of 2017 during a Nintendo presentation in Tokyo. Since then we have heard very little outside of a new teaser trailer and confirmation that the upcoming JRPG will make its way to the west as well exclusively for the Nintendo Switch.

The other title Project Re Fantasy was announced shortly before SMT V in December 2016 that is being developed by a new team called Studio Zero which includes members of whom previously worked on mainline Persona games. Project Re Fantasy has also been brought up recently on its current development status in an interview with Game Informer where Atlus character designer Shigenori Soejima stated "I feel like we are finally at a place where we have a direction and are moving forward with it. Hopefully, we’ll have something to show everyone in the not so distant future."

We already have a lot to look forward to with the release of both Tokyo Mirage Sessions #FE Encore and Persona 5 Royal coming out during the first half of 2020. Plus, we're likely getting Persona 5 Scramble later next year. What a great time it is to be an Atlus fan.