http://andriasang.com/comzzy/sakaguchi_ios/?utm_source=twitterfeed&utm_medium=twitter According to this: http://www.bamarenlive.com/2012/01/exclu-hironobu-sakaguchi.html One of these titles is a surfing game known as Party Wave and will be coming out in May or June. From what is gathered in the vid, a party wave is the kind of big wave a lot of people take at the same time. Goal would be to put as much surfers as possible on a wave. Anyway, looks like there's no one willing to give the Gooch his monies anymore so he's going full steam with smartphones (and I'd hazard social network like GREE in time). Not surprising, since for the past seven years he and his Mistwalker company have been funded millions for ambitious projects all of which have for most part performed poorly in sales.
Further update: http://www.eurogamer.net/articles/2012-02-17-final-fantasy-creators-next-project-is-a-surfing-iphone-game