Capcom has formally announced the creation of Clover Studio, a new development studio set to be established July 1, 2004. The new website can be accessed here.
The company is headed by president Atsushi Inaba and consists of several well-known Capcom employees including Shinji Mikami, script writer for Resident Evil and Hideki Kamiya, the director for Devil May Cry.
The 64-employee studio is currently in development with the sequel to Viewtiful Joe for PlayStation 2 and GameCube and also Okami for PlayStation 2.