Sega have posted up an placeholder page for a new title to be produced by Takao Miyoshi.
Miyoshi has worked as game designer for various Sonic titles and produced the various Phantasy Star Online and Universe titles since 2000. The only hint is a large mushroom sprite, Sega placeholder page. No platforms have been mentioned.
Thanks to C3 reader Jump_Button for the tip.
Could a Phantasy Star for home consoles be on the way?