Started last gen, really, with Kamiya, Inafune, and Mikami ditching Capcom. Itagaki and Tecmo, Igarashi and Konami, Naka and Suzuki and SEGA all of the older generation of Japanese game designers that aren't with Nintendo or Square Enix.

The trouble they all seem to be running into is... finding publishers. Mikami got well set up with Zenimax, while Kamiya's Platinum dumped by Sega, mercenary working for Konami and now living basically on Nintendo's charity, Naka's Prope has had its game in development hell, Inafune is stuck punting around on Kickstarter, and Devil's Third is also fast in danger of becoming vaporware (whatever the rumors might say).

Mistwalker's been pretty successful, though we haven't heard a thing from them since Last Story.