Mistwalker’s RPG, Lost Odyssey, will definitely get a sequel, and it’s likely that it will turn into a series, Microsoft Japan has implied.
They recently announced that the “series” will grow, and Microsoft was most certainly encouraged by the sales in Japan where they sold over 100.000 copies. Also, Microsoft will finally have their own horse for the race against the famous Final Fantasy series.
This game has been selling since the end of 2007, it recently hit the U.S. market, and should be in Europe soon.
You can find more info on the game here.