Vanillaware is a video game development company founded by former employees of Atlus, including game director George Kamitani. Their most noteworthy work so far is Odin Sphere, also a collaboration with Atlus, for which there will soon be an HD remake. (It is possibly due to their focus on this HD remake that the new and not even yet named HD project is still in the early stages.) Development is still underway and Atlus and Vanillaware do not yet have many concrete details to share.
Following the broadcast announcement, a brief teaser video was also released, publicly revealing the existence of the new project. Unfortunately, fans will have to wait until September for more information on what to expect from this upcoming game.