Update - June 7, 2021
So, we've now got further information about what this project is. We've just seen a teaser website and official Twitter page go live for a game called "Monark", right before that June 10 announcement. Within the website, there's a number of illegible names but several which can be spotted - Kazunari Suzuki, Ryutaro Ito, Tsukasa Masuko and Aya Nishitani - are former Shin Megami Tensei developers.
While we don't have much more about actual gameplay just yet, dataminers have confirmed a common domain under cs.furyu.jp, meaning this'll likely be published by FuRyu Corporation. Furthermore, the website source codes also contains this text:
Four choices. Four fates. The choice is your ego’s to make. Abandon all hope, ye who enter here.
With only a few days to go until the formal reveal, we'll get more details soon about this intriguing new project.
Original - June 2, 2021
There's no lack of RPGs on the horizon right now. Between the multiple Dragon Quest projects announced last week, Scarlet Nexus, Disgaea 6, Tales of Arise and plenty more, we've got news that another is being announced next week, just before E3 2021 begins.
As confirmed within the latest Weekly Famitsu (thanks Gematsu), an announcement for a “New School RPG” is planned on June 10. Reportedly, that'll involve former Shin Megami Tensei and Megami Tensei development and music staff too, though we don't know who yet.
Former Shin Megami Tensei Developers Are Revealing New RPG On June 10
Strangely, Weekly Famitsu only refers to these creators as S, I, M, and N, individually. There's no names included for any publishers, developers or platforms just yet, but chances are that we'd (almost) certainly get those details next week anyway.
With Shin Megami Tensei III: Nocturne HD Remaster releasing last month, we had positive impressions of this 2003 PS2-era RPG and later this year, fans can expect Shin Megami Tensei V on Switch. As always, we'll keep you updated once we learn more about it, alongside this New School RPG.