Update: The full title is Star Ocean 5: Integrity and Faithlessness and is set on the planet Feycreed, some 6,000 light years away from Earth.
Characters confirmed to appear in the game include Fedel Camus, the protagonist who specialises at fencing, and protects the order of his village; Miki Sorvesta, Fedel's childhood friend who loves him like a big brother; and Lilia, a girl who has lost all memories and the ability to feel emotion.
The game will feature a seamless real-time battle system featuring contextual attacks and combos.
Original report: Star Ocean 5 is in development for PS3 and PS4, Japanese video game magazine Famitsu has revealed.
The game is reportedly being developed by tri-Ace and is the first new entry in the franchise since 2009's The Last Hope.
The game is currently being teased for an April 15 reveal by publisher Square Enix. Expect lots more info when the teaser countdown ends tomorrow.
Source: Famitsu via Gematsu