Famitsu confirms, the game represents a collaboration between Nintendo and Bandai Namco, and it's coming to arcades in Japan some time next year.
The game was revealed today during a Niconico livestream by The Pokemon Company CEO Tsunekazu Ishihara, Tekken producer Katsuhiro Harada and Soulcalibur producer Masaaki Hoshino. Gematsu reports Pokken Tournament will be developed under the leadership of Harada and Hoshino. Details are limited, but a short announcement trailer showed Lucario and Machamp duking it out, before revealing the Pokken Tournament logo.
To see the announcement trailer, pokken below the break.