Yes, it appears so.
Atlus, who has been just shoveling out the SMT love lately, has dropped an ad in the latest Famitsu magazine with a rather enigmatic spin on it. It involves purple clouds and cats, but considering that a lot of SMT games involve cats in some form or fashion it isn't exactly new.
Still, Gamekyo has the scan up here.
Blogs who have picked up on this already are claiming that it is Shin Megami Tensei 4 (Not Persona 4) but, personally, I don't think it is. The cat looks an awful lot like Goto from SMT: Devil Summoner "Raidou Vs. The Soulless Army" so thats pretty much the direction I'm leaning right now. I loved the Raidou SMT game, so if it turns out to be Raidou 2 then I'm gonna pick it up.
What about you guys?
Still, new SMT RPG game inbound! Always good news, right?