plip.plop on 20 June 2015
It's going to be 3rd person action adventure game, with shifting landscapes (because of Sandstorms).
Here's a link to an interview with Inafune and Armature. Sounds like Microsoft is offering quite a bit of help to get this done, Maybe they felt this project was too ambitious for them alone.
Seems Armature was also involved in Bloodstained: Ritual of the Night. They handled the WiiU and Vita versions.
http://www.gameinformer.com/b/features/archive/2015/06/20/keiji-inafune-and-armature-39-s-mark-pacini-talk-recore-mega-man-legends-3-and-iga-39-s-bloodstained.aspx
