Square Enix have traditionally stayed away from Western developers and studios, but are now looking to follow in the footsteps of many of their Japanese competitors and expand into game development across the sea. Last Wednesday it was announced that Square Enix will publish Gas Powered Games' Supreme Commander 2, and unorthodox move not only because it is developed by an independent western studio, but also because it is a PC game (well, no platform(s) have been announced, but moving away from PC would be a major surprise).
Now it has also been revealed that Square Enix are opening their own studio in Los Angeles. Job advisements mentions that the studio will initially work on an "action-oriented original IP" and the ads also specifically mention experience with working on Xbox 360 as a requirement so it's safe to assume that will be one of the formats for the new action game.