Last year, Square Enix announced that they created a new studio called Tokyo RPG Factory, which will specialize in creating new RPG titles.
It's been announced that their first project, "I am Setsuna", will be released in North American July 19th on PlayStation 4 and Steam.
The game was released in Japan last February on both PlayStation 4 and Vita, but there are no mentions yet of the localization for Vita coming in the West.
This project wants to be an homage to the JRPG of the precedent generations and will feature a battle system inspired by the classic title "Chrono Trigger".
A teaser trailer was released and can be viewed here.
More information can be obtained by consulting the official site.