Is it still a JRPG if it's developed by Americans? That's both a 21st century kōan, and a genuine question I have of Y2K. Perhaps it's more accurate to call it a J-style RPG; taking the design philosophies of the genre, and tying them to a Western story that's nevertheless inspired by the novelist Haruki Murakami.
All you really need to know is that the main character's weapon is a vinyl record. Also that there are "weaponized panda plushies".
Your own tolerance for hipster culture, plushies or surreal depictions of '90s-era technology aside, the developer has posted a few pre-alpha videos and they're looking pretty promising. Already they offer a good overview of the battles, puzzle-style and weirdness of the game:
Y2K is due out for Windows, Mac, Linux and various Playstation devices. There's no release date yet, but you can follow its progress over at the dev's site (opens in new tab).
Note: Y2K was brought to my attention by Cassandra Khaw, who is both business developer for the game's publisher, Ysbryd Games, and an occasional writer for PC Gamer.