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 Member 445 Level 24.23 Mar 2006 
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This is interesting. I'd also guess that this would be a good method to spread out the otherwise expensive initial costs PS3 development for these smaller companies to start making their own PS3 RPGs. While Compile Hearts is leading the development, from the look of it each company is providing their own assets rather than just licensing out their IPs for the game.
Jam it back in, in the dark. 
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Member 445 Level 24.23 Mar 2006
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The assets being shown so far are showing their unique style from each company. Either they have a really good tracer or these companies at the very least are tossing their own artwork into the mix.
Also the statement that Compile Heart is leading development over handling development suggests that its an asset collaboration. Plus if I was decision maker of one of these companies and I was putting my name and money into the project I would at the very least want to take advantage of this and give my team some PS3 programming experience in this project and every one of these companies has either made a game for the PS3 or has expressed interest in doing so. Also Japanese company collaborations like these generally involve a lot more than just licensing especially considering the history of the smaller companies included in this collaboration. Some of these smaller guys have been talking about forming a keiretsu(a type of corporate collaboration unique to Japan) for a while now to deal with the rising costs of game development. Obviously these are just observations. I have no idea if any of this is really going on. There's nowhere I can't reach.
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Cetra