In a recent livestream with Dengeki Online, Shuichi Kobayashi producer of Star Ocean 5, addressed hopes for Valkyrie Profile 3 (VP3). Kobayashi surprisingly shares that he does have intentions for creating a new VP — He goes on to share that he in fact has proposals for VP3 at the ready on his PC.
Valkyrie Profile is a series developed by tri-Ace that began on the PlayStation. VP1 combined turn-based combat, serious narratives, a reward based combo system, and a large cast. VP1 was released in 2000 (later re-released in 2006 for the PSP) and followed the story of Lenneth Valkyrie. In 2006, Valkyire Profile 2: Silmeria was released for the PlayStation 2. VP2 retained and improved upon the same fundamental game design and follows the adventures of the Valkyrie Silmeria — set centuries before VP1.
It was revealed that the reason we have yet to see VP3 is due to the market’s interests. Kobayashi explains that Square Enix has felt the market would not respond favorably. This could mean that VP3 would be a different kind of game than that of popular JPRGs and may not sell well if at all. He also shares that if JRPG fans (in Japan) were more likely to play different games, VP3 would have been released already.
As of now, he hopes Star Ocean 5 sells well so that it could increase the likelihood that VP3 may be developed.