Square Enix has had a rough few years recently, especially with several game titles not hitting up to mark. But with that said, most Japanese game companies are in the same situation. Over at E3, Square Enix revealed a major push in next-gen gaming by announcing Luminous Studio, with a demo to boot. Note that the graphics in the demo below are from the actual game engine (real-time), not CG graphics.
While there are no titles announced so far using this in-development engine, I will safely place my bet on an upcoming Final Fantasy and Tomb Raider title. Speaking of Final Fantasy, the upcoming version 2.0 reboot for FFXIV will use certain features of Luminous Studio, sadly not the whole package.