http://www.siliconera.com/2012/08/09/new-dungeon-rpg-for-vita-promises-a-european-setting-with-plenty-of-elves/
Experience, the studio behind Students of the Round, are developing a brand new dungeon RPG for PlayStation Vita. Currently, the game does not have a name, but this will be an adventure with swords and magic in a fantasy world. I suppose Experience is making this clear since their last dungeon RPG for Xbox 360 had a sci-fi setting.
The world resembles medieval Europe, but will have fantasy staples like elves, dwarves, and fairies. Of course, there will be monsters like goblins and dragons too. You play as an adventurer which the game calls a "bounty hunter."
Kadokawa Games opened a site with a list of weapons like a dagger, double edged dagger, long sword, and axe. This game also has chakrams, boomerangs, crossbows, and a broom for sorcerers. You can apply to name some of the items here, but it looks like they’re only taking Japanese suggestions with six kanji/hiragana/katakana characters.
