Well, considering those of eastern based regionally challenged mentality generally agree that all western gamers don't like eastern based games and animation i think you already know the answer to this, but in fairness i will give you a neutral answer.
If it was cost effective enough to guarantee them making money they would no matter the region. That includes advertising because without it you aren't really trying to sell your product. You also need to sell it as a product that doesn't scream Japanese only. There are people who don't want region thrown in their faces. They are going to need to believe it was made with the global community in mind. That would be my advice.
You are fooling yourself if you don't believe there is an audience in the west for it, however. There are those of us in every region who crave to get their hands on any new experience regardless of where it is made.
Elf this....Elf that....I'll Elf your mother. Yuki Nagato FTW
Another Story would have been an awesome game to have localized, but yeah, there hasn't been much in quite some time. The series just isn't popular enough over here. Dragon Ball may be old, but its popularity has lasted.
"You can almost taste how much the Bubsy 3D makers hated the children of America," from Seanbaby's review of Bubsy 3D (EGM #150)
Anime before the genre boomed in the west + Magical Girls = Wasn't gonna happen.
I'm just surprised there have been very few games SINCE that time. I mean, sure, magical girl animes seldom get games today that aren't just clones of casual games with the girls' faces slapped onto them, but c'mon, we're talking about THE magical girl anime here. Hell, it's getting a new project this year, it'd be the perfect time to capitalise.