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I think the problem is that no Westerner hardcore gamer gives a damn about JRPGs on handhelds and considering the JRPG fanbase in the West is not that big anymore, the best bet is consoles. All new IPs of SE this generation are on handhelds, so they didn´t have any chance to begin with and nor any big chance in Japan anyway since hardcore gaming there is suffering.

Last generation SE was in big trouble anyway, since it the merger took place so creating successful new IPs was out of the question. Nomura did his wonder of course, but it still was a safe bet with the collaboration of Disney and inclusion of FF characters.