A portion of a Hobby Consolas interview with Intelligent Systems' Hitoshi Yamagami...
HC: What can you say about that crossover between Fire Emblem and Shin Megami Tensei?
HY: For a long time, I wanted to create a FE on ours times, on the real world. Imagine a Pegasus that comes from the sky and lands on the Building 109 of Shibuya, Tokyo. I always though that would be incredible. At the same time, I know it’s hard because of how FE is. I visited many companies to express these ideas. When I went to Atlus, I was told that Shin Megami Tensei together with Fire Emblem is what I wanted. So, I soon said that to Intelligent Systems and started this very special collaboration. Oops! I shouldn’t say that the game takes place in the real world. We haven’t announced it, right?