Bravely Default developer Silicon Studio and Mistwalker, the team behind acclaimed Xbox 360 RPG Lost Odyssey have announced they are collaborating on a new project.

According to Gematsu, which has translated the Japanese announcement, the project will mix Mistwalker's ability to come up with imaginative worlds and Silicon Studio's technical strength in creating high-quality games.

An image of an armour-clad knight wielding a sword, and a large dragon has been released as a teaser (above). Interestingly, this image was first shown in 2009 and can also be found on the download page for Terra Battle.

It may be that the new project is set in the same universe, but this has not been officially confirmed. Both studios have said further details on the game and its release window will be announced "at some point in the future."

Mistwalker is famed for being the studio founded by Hironobu Sakaguchi, creator of Square Enix's Final Fantasy series. Its first two games, Blue Dragon and Lost Odyssey, were released initially as Microsoft exclusives. Since then Blue Dragon has appeared on 3DS and the studio branched out into mobile games with Terra Battle.