I think the Xseed side of this is likely the more interesting story. It's been a long time in coming. First they got in good with Namco Bandai with Retro Game Challenge, which enabled them to localize four Wii games and eventually Solatorobo. They used the NOE translation, which probably got them an in with Nintendo to do the same for The Last Story.
I have to say, I don't always think their taste in games to localize is spot on, but I know a lot of it is a matter of opportunity. They have to take what they can get.
If you go back and look at their history it does look much more deliberate though. They really worked with Namco Bandai a lot, and recently with NoE, as you noted, on a Namco Bandai game.
I'm happy for them. I hope this is a big success.