Damn I just watched this trailer:
http://www.gametrailers.com/player/41056.html
And this game looks amazing! I would say its a cross between Alien Soldier (non stop enemies and bosses) and Odin Sphere (for its style and visuals).
I have never heard of this game until now, but if it is not coming to the US this is just another reason for me to import a wii (for Klonoa as well)