This is Bravely Default: Flying Fairy. It's a role-playing game made by some of the people who made 3D Dot Game Heroes and some of the people who made Final Fantasy: The Four Heroes of Light. Nintendo showed it off during its Japanese livestream last night. And it looks wonderful.

Let's try to ignore the fact that it's called Bravely Default: Flying Fairy. This is the type of RPG that North American 3DS owners could really, really use right now. Just stick "Final Fantasy" somewhere in the title and bam: instant hit.