There's a new, talented development company in Japan, as Capcom has announced the opening of its new Osaka, Japan-based subsidiary, Clover Studio Co., Ltd. The formation of studio was announced announced a few months ago in April.

The in-house developer, which will be led by Atsushi Inaba, producer of the Viewtiful Joe series and Steel Battalion, consists of 64 transferred Capcom employees, including Resident Evil series producer Shinji Mikami and Devil May Cry director Hideki Kamiya.

Clover Studio, which will operate with a 90 million yen (roughly $831,000) capital fund, has three titles in in production right now: Viewtiful Joe (PS2), Viewtiful Joe 2 (GCN, PS2) , and Okami(PS2).

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