According to an article from IGN UK, Epic Games CEO, Tim Sweeny, will be officially announcing a studio opening in Japan on April 15th. This formal event will also guest star games studio Suda 51, which is also working on an Unreal Engine game for EA.
Gears of War designer Cliff Blezenski will not be attending, but will make a special video appearance for the new studio's gala event.
Whether this means Eastern localization for Epic games or entirely new IPs is still unkown. Either way, this is a massive step for a largely Western based company.
Source: IGN UK