Producer Teruyuki Toriyama, who worked on the likes of Bloodborne and 2020's Demon's Souls remake has opened up a brand new studio, and it sounds like he's going big right out of the gate.
According to an Automaton Media report, Toriyama's new venture will be called Sirius Studio, and it's been opened under the auspices of Osaka's Gz Group, which is usually focused on creating games in the PC and mobile spaces, as well as VR games.
Despite that, Automaton says Toriyama's Sirius Studio will be focusing on making "high-end console" games, as well as VR and XR (virtual and extended reality) titles. Sirius' efforts will span a range of both new and existing IPs as well.

Per Automaton, Toriyama says that it's going to take a while before Sirius Studio is ready to announce its first project, but that the company is looking to start with a major project rather than easing itself in through a smaller effort.
Toriyama's time as a producer with Sony's Japan Studio includes credits on the likes of Demon's Souls (both in its original form and its remade version), Bloodborne, and the PS Vita game Freedom Wars, which got a remaster earlier this year.
He left Japan Studio, as well as Sony as a whole, in 2020, and his former outfit was subsequently shut down in 2021 (which may be a significant contributing factor in the lack of a Bloodborne remaster or remake).
After working with Sony, Toriyama moved to Soul Covenant developer Thirdverse, but according to a Famitsu interview (with Automaton's translation), he left when it became clear Thirdverse was shifting away from higher-end console and PC game development.

What Toriyama will do with Sirius Studio remains to be seen, but the studio enters the industry at a time when many are finding it difficult to secure or maintain funding.
Additionally, layoffs are still sweeping across the industry, affecting bigger and smaller studios alike. Toriyama certainly faces a challenge in founding a new studio and creating a high-budget game in this climate, so let's hope he and Sirius can surmount that challenge.