1/4 RPG (also know as One Fourth RPG) is a cancelled Action RPG that was in development by FromSoftware for the Playstation 2 (with a rumored Dreamcast version) in 2000. The game was shown at the Tokyo Game Show 2000, as you can see from the video below, but it soon vanished from their release list. As we can read on the (now dead) GIA Website:
The peculiar name is derived from the make-up of the party of heroes. Four different characters (selected from a pool of seven or eight) comprise the team at one time, but you actually play as a fairy guiding the four characters into battle. In a system akin to Valkyrie Profile, each “fourth” of the party (i.e., one character) can be selected via a different controller button, then moved into place with the d-pad. Attacks apparently are used automatically; your goal is just to keep the four heroes in the right place at the right time. Up to twelve enemies can appear on screen at once, so expect some large battles.
According to a report from IGN, 1/4 RPG was placed on “indefinite hold” in 2001 and From Software moved their resources to other projects. The game was never released.
Thanks to Celine for the contribution!