Look at these NEWS :
http://www.esterior.net/2013/04/pc-version-of-ys-seven-in-english/
http://www.rpgsite.net/news/2351-ys-seven-arriving-on-pcs-in-the-west
Seems that a Chinese company (Joyoland) is planning to enter the American and European gaming market by releasing an English version of their PC port of Ys Seven in English.
The company recently ported The recent Legend of Heroes Zero no Kiseki and Ao no Kiseki to the Chinese PC market (according to their site : http://www.joyoland.com/ )

Another site (Falcom Blog China) : http://blog.sina.com.cn/s/blog_6c91083b0102ej9n.html
Legend of Heroes and Ys are developped by NIHON FALCOM.
EDIT : a video of Ys Seven
http://www.youtube.com/watch?feature=player_embedded&v=YizVrUcObWA

You can visit this blog for Zero no Kiseki and Sen no Kiseki guide








although I already have the PSP version. A member of Xseed's staff says that this Chines company is using their translation (after a first analysis) .
. If there isn't one editor who wants to edit that Ys Celceta in Europe , It will be Xseed (but only the digital copy) .