Story here.

With Ys: Foliage Ocean in Celceta having hit PSV, Falcom has said that they're torn between remaking Ys 5 or moving on to a new chapter.

Quote Originally Posted by Toshihiro Kondo, to Siliconera
“In terms of the next Ys title, it is something we are still planning and discussing right now. At this point, it is too hard to tell if it will be Ys Eight or maybe we’ll take all of our new technology and remake Ys V. Those are just a couple of possibilities that we’re discussing internally on which direction to go with the Ys series.”
I don't mind either way. Since Ys 5 hasn't been translated, it'd be new to me. Whatever they work on, hopefully they consider putting it on PC or PS3.