It looks like that Earth Defense Force 5 exists and that it will be heading to PS4 at some point, if the official Tokyo Games Show app is correct. The app is currently out in Japan and it lists the games you can expect to see at the event from the different publishers that will be there. Under D3 the app has listed Earth Defense Force 5 for Sony’s console, and since Sony are holding a conference it wouldn’t be a surprise to see it there.
You’ll be able to watch Sony’s Tokyo Games Show conference in English through a livestream, which will begin at 8am BST on Tuesday September 13th.
Source: Gematsu