Update: Capcom Europe has confirmed to Eurogamer that the announcement of Monster Hunter Frontier for Xbox 360 currently applies to Japan only, and it's not guaranteeing a Western release.
Here's the full statement: "Monster Hunter Frontier is an online multiplayer action RPG currently only available in Japan and other Asian territories. Originally released in 2007 for the PC, it has now been confirmed that Monster Hunter Frontier will be released in Japan on the Xbox 360. As yet the title has not been confirmed for release in Europe or North America."
Also, you can now view the reveal trailer on Eurogamer TV.
Original story: Capcom is bringing Monster Hunter Frontier, its massively multiplayer Monster Hunter game for PC, to the Xbox 360 in Japan.
The game is due for a 2010 release, according to the official Japanese site.
Kotaku reports that a closed beta test will begin in May, with full service beginning in the summer. The game will charge a 1400 yen monthly subscription (roughly $15 / £10 / €11) on top of Xbox Live Gold membership. Capcom plans to start 360 players on separate servers from the PC game, but hopes to merge servers eventually.
That suggests there won't be any significant changes to the Xbox 360 game. The PC version of Monster Hunter Frontier launched in 2007 in Japan and Korea in 2008 but is currently unavailable outside Asia.
We've contacted Capcom (plus Eurogamer contributor Keza, who speaks Japanese and is crazy about Monster Hunter) for more details.
The Japanese Xbox.com site trailed this announcement over the weekend, with the words "Capcom x Microsoft" and today's date.