According to messages posted on his personal Twitter, game director Yasumi Matsuno stepped down his position at Level 5 last month, during the downtime following the worldwide release of Crimson Shroud. He currently plans to take some time off to recharge.
http://bdashnews.wordpress.com/2012/11/07/yasumi-matsuno-leaves-level-5/
Mod Edit: From Matsuno's own Twitter account, in English:
I'd like to formally announce my departure from Level-5, effective last month. With my work done on the domestic and overseas version of my latest 3DSWare game, it was good timing for me to step down and take a short break in order to recharge for my next project. My deepest thanks to everyone at Level-5 and everyone playing our games for your continued support. (thx to @aokajiya for the translation.)