UPDATE: Since this original posting a new trailer for Persona 5 has been released. It shows off a lot more of the gameplay that can be expected from the latest entry, as well as, promising a Summer 2016 released date.
After promising a vague 2015 release date, Atlus has surprised no one and announced that Persona 5 will now ship in 2016. In their press release, they state that there is no easy way to say it, but the title will be released in Japan and the Americas in 2016.
Atlus also mentions the complexity of the story and characters of the Persona franchise as the need to delay the game. While the delay is highly disappointing, it seemed inevitable given the lack of release information as we get closer to the end of the year. Perhaps in the best case news for fans, it seems that they are still planning a Playstation 3 release, as many developers have moved on from the platform leaving many to believe that Metal Gear Solid V was the last big release for the aging console.
Hopefully, Persona 5 will be released in the spring rather than next fall, but all we have to go on is that it will be coming in 2016.