I subscribe to Atlus’s E-Mail bulletins, to get teasers for their new games. I recently received an E-Mail with a subject line of ??? and a body of this picture and (basically) nothing else. My analysis and theories below the cut.

Obviously it’s a game in the Shin Megami Tensei series – the logo is featured prominently. As far as the figure is concerned, it looks cartoony, sort of like Teddy, the mascot character from Persona 4. However, from prior Atlus statements there will not be expansions or FES releases for Persona 4.

While there have been rumors of a PSP re-release of Persona 1, I don’t believe what this is – I believe that this teasing a US release of the next Devil Summoner game, featuring Raidou Kuzunoha. Admittedly, this theory is based entirely on two points – Devil Summoner 2: Raidou Kuzunoha Vs. Avadon King was slated to be released in October 2008 in Japan (so, presumably it’s already out), and second… the character’s hat bears a bit of a similarity to Raidou’s hat… except puffier. Yes, that’s all I’ve got. If you’ve got any better theories, I’m open to them.