A new Ys game was announced today during a Falcom stockholders' meeting.
Ys VIII: Lacrimosa of Dana will be coming to PS4 and Vita in Japan next summer.
According to gematsu, the backdrop for the game is Sirens Island, "an archipelago of 'South Gria' in the 'Goethe Sea'."
You can develop your 'Drifting VIllage' base by gathering castaways. The residential area can be defended with castaways during 'Counter-Attack Battles', and there are a number of attack skills that will become available.
There's no news yet of a western release, but we'll keep you posted. In the meantime, you can peruse the handful of screenshots below.