"SEGA have announced that 7th Dragon III Code: VFD is in development, set for release in Japan later this year.
The Nintendo 3DS exclusive RPG’s reveal was accompanied by a teaser website, which currently only shares basic information surrounding the project. It details that 7th Dragon 2020 illustrator and designer Shirow Miwa returns as character designer, while Yuzo Koshiro is the composer with sasakure. UK handling the theme song. Whereas Masayuki Kawabata will helm the project as director, with Juro Watari as producer. More information will be shared in a NicoNico livestream that will take place on Friday 3rd July, with a countdown timer ticking away until it airs. 7th Dragon III Code: VFD will release exclusively for Nintendo 3DS in Japan on October 15th."
Source: http://www.nintendo-insider.com/2015/06/30/7th-dragon-iii-code-vfd-adventures-to-nintendo-3ds/
I don't know much about this series, but I hope this game actually makes it to the west unlike the other entries. Unfortunately, since it's SEGA I don't have much faith in that, but it'll be interesting to see how well this game does in Japan.