Square Enix introduced Agni's Philosophy trailer as a glimpse into what the company could do with its new Luminous Studio engine. It wasn't necessarily a game project at all, and when it was mentioned in the context of a game, it was tinged with hints of Final Fantasy. But retail listings now suggest it will be a game, and a standalone one at that.
Square Enix had an odd appearance at Sony's PlayStation 4 reveal, in which it showed the Agni's Philosophy teaser over again and promised to have further announcements at E3. If Agni's Philosophy is now a full game, and aimed for the PlayStation 4, that would make sense of the strange choice of stage time. With E3 just around the corner, we're likely to learn more in about a week.