Persona Team has had a very busy past two years with the release of Catherine, the re-release of Persona 2, the re-release of Persona 4 Golden and Person 4 Arena. Between all of these games there was one question that fans have been asking is, "When is Persona 5 coming out?" Well that question has been answered in a recent issue of Famitsu. Series producer Katsura Hashino stated that he has sumbitted prelimnary sketches for the game and the characters. He says that development is moving along nicely but gives no indication as to how far along the game is in development.
Source: Game Shampoo