XSeed Games has been localizing Falcom’s back catalog of PSP titles, including Ys I&II Chronicles, Ys: The Oath in Felghana(Ys III), and Ys Seven. Aside from Ys Seven, versions of these games had been previously localized at some point in North America. Ys IV and V, on the other hand, have not.
A fan asked Xseed on their Facebook page if they had any plans on localizing these two titles. A random representative of Xseed replied, “If Falcom were to make IV and V available to us then we would love to work on them.”
To my knowledge, or rather Wikipedia’s knowledge, the most recent consoles these titles have been released on is the PlayStation 2. So a simple localization of the titles may not be possible at this point.
We will have to see if both Xseed and Falcom will be able to come up with some sort of agreement and plan for releasing the titles.