First announced in July 2014, Demon Gaze II has been in development at Kadokawa Games and Experience for some time now. Today Inside Games (translated by Gematsu) reported that it has been given a release window, albeit a pretty wide one, with the game expected out sometime in 2016.
This was announced during a media briefing held by the developers, and they also encouraged their fans to give them some ideas to use in the game. Hopefully they have some ideas already in mind, but a little bit of player feedback couldn't hurt.
Demon Gaze II is coming to Sony's PlayStation Vita, sometime next year.