According to Italian website e-duesse the sequel to Project X Zone is in development for the 3DS. The article that suggested Project X Zone 2: Brave New World has since been edited because of the leaked information, but its goal was to recap the Bandai Namco Level Up event in Milan.
Prior to being edited, the article listed both Saint Seiya: Soldiers’ Soul for the PS4, PS3, and PC and Project X Zone 2: Brave New World for the 3DS.
Saint Seiya has been officially announced making it safe to assume that Project X Zone 2 will also be confirmed. If you aren't familiar with Project X Zone, it is a crossover tactical RPG. There are over 200 characters in the game, all borrowed from another game. There are characters from Devil May Cry, Mega man X characters, Street Fighter, Resident Evil, Tales of Vesparia and so much more.
[Gematsu]