RUMOR - Square-Enix licenses characters to Nintendo for undisclosed project?

Here's a juicy rumor for you guys and gals. We're hearing that Square-Enix may have worked some sort of deal with Nintendo to share a character or characters for use in a game project. We don't know what Square-Enix characters these are, but apparently they haven't been used in a very, very long time. Is Square-Enix looking to revamp a forgotten series/character with Nintendo's help? Thanks to reader Noel for the heads up, as well as the direct tip.