It appears that Sega and Atlus are going to announce a previously unannounced RPG at the Tokyo Game Show, which is airing in two weeks. A listing on the show’s website for the Sega/Atlus show mentions that it will feature the new RPG. We have no idea what that could mean, but given Atlus’s track record, we could make a few educated guesses. The website says the show is almost two hours long, but that might be a typo as most of the other shows are around 50 minutes.
As for what RPG they’re going to announce, that’s a matter of speculation. One popular theory is that it’s going to be a new Sakura Wars game — as VGC points out, the anniversary of the series is coming up. Atlus’s other games including the Persona and Shin Megami Tensei series, and we’ve recently had Persona 5 and we already know about Shin Megami Tensei V, so I don’t think it could be either one of those. The only other candidate I can think of is a mysterious game called Project Re Fantasy, which was revealed in 2017 and hasn’t really been heard from since.
It won’t be the only show at the event, by far. The other companies that are planning to have shows at the Tokyo Game Show include Square Enix, Microsoft, Konami, Capcom, and will feature over 40 shows. Microsoft/Xbox has said that it won’t be revealing anything new but will have updates on “locally relevant” games.
There are several possible games that could be revealed at the show, though. Personally, I’m hoping to see either Final Fantasy XVI or the long-dormant Bayonetta 3. Square Enix has confirmed that its TGS show will include updates on Stranger of Paradise: Final Fantasy Origin, Marvel’s Guardians of the Galaxy, Forspoken, and Project Triangle Strategy.