In interviews published in the recent issue of Weekly Famitsu, Square's Yasumi Matsuno said that about 120 people are working on his current project, Final Fantasy XII, which will be released later this year in Japan. From a development standpoint, he wants the game to be a truly unique title this year. Furthermore, he mentioned the possibility of doing something with the card e-reader.
Level 5 is currently working on the US version of Dark Cloud 2 (Dark Chronicle in Japan). The main theme will be performed by an American artist. More interestingly, the team commented on a new project, however no details were given, as the title is in a very early conceptual stage and not even the genre has been decided on.
Last but not least, Nintendo's Shigeru Miyamoto said there might be another Zelda project forthcoming.