CyberConnect2, the Japanese developer most famous for their work with the .Hack and Naruto games, is working on a brand new IP, unrelated to their previous works. The new title is due out sometime in 2009. This info comes courtesy the latest edition of Famitsu Weekly.
CyberConnect2's previous titles have all been Sony exclusives, including the PS3 exclusive Naruto: Ultimate Ninja Storm, which just released last month. Though this is only speculation, this would point towards this new title also being Sony exclusive.