Ex-Capcom head of production, Keiji Inafune, has yet another pot on the stove. His company, Intercept, announced its next game last night: "King of Pirates" for the Nintendo 3DS, which brings Inafune back into console development (as previously hinted). The game is apparently set on a massive ocean, "where heroes fight for ambition, justice, and their lives," according to a note from Inafune. 4Gamer reports that the game is planned as a trilogy, and features some form of multiplayer.
The teaser trailer, however, doesn't go very far in explaining what the game is actually about, though it seems to indicate some form of ship battle game -- the official website describes it as "pirate action adventure." The trailer does let slip some other information, however, such as who's publishing the game, namely Marvelous AQL, makers of the Harvest Moon series.
Currently, King of Pirates is only slated for launch in Japan, though we'd be surprised if it didn't end up in other territories eventually. In fact, according to Inafune's own development philosophy, it's almost guaranteed to arrive elsewhere.