Star Ocean 5 is currently being developed by tri-Ace for PS4 & PS3, with the latter being the lead platform. PS4 will be a port with Square Enix looking into ways to utilize the share functionality.
Square Enix have announced that the title will release on February 25, 2016 for Japan, and an unannounced date in 2016 for the West (PS4 only).
Set in the year 537 Star Ocean 5 will take place between Star Ocean 2 and 3. Set on the dangerous and remote planet of Feycreed, located 6,000 light years from Earth, growing conflict will once again threaten the Galactic Federation and humanity's hopes of order and peace.
Battles will be both seamless and in real-time. In addition to the traditional event scenes, there will also be seamless events where the enemies attack you. Different outcomes may occur if an enemy captures on of your allies during an event.
Basic battles are very much the same as previous titles, where the player controlled character will take on an enemy in a 1v1 battle. However, boss battles will include the whole party in your fights, which creates a difference in strategy and overall feel.
Famitsu interviewed the title's producers and developers with some very positive answers being provided. Kobayashi, a producer, claims that "Star Ocean 5 is about bringing a sense or reassurance back to longtime fans..." and that there are no plans for story DLC or a re-released "Full Version". "I sincerely don’t want to do anything with this game that’ll upset people even a little bit," Kobayashi said. The overall game will reportedly be taking major cues from the fan-favorite Star Ocean 3.