Nintendo just concluded with their second Nintendo Direct of the year. CEO and President Satoru Iwata sat down and started to talk about the 3DS and a multitude of games that will be coming out during the year. One of the games that was show was the Capcom, Namco and SEGA cross up Project X Zone.
In the trailer (which is in Japanese btw) we are shown a bit of gameplay, which consist of cross up combos from all of the teams:
The trailer also states that game will also include more character team ups. Its not clear if players can mix and match or if the teams are pre set. No word if the game will be released in the states but it will see a release some time in 2012 in Japan