Is a weird agreement preventing a western Phantasy Star Online 2 release?

Hey look, it's 2016 and still no western localization of Phantasy Star Online 2 in sight. But what could be preventing this or even Sega from talking about it?

According to fansite TSSZ, a source told them that there's an agreement preventing Phantasy Star Online 2 from properly releasing in the west. The agreement is between Sega of Japan and a Chinese company (TSSZ thinks it's Gamania Digital Entertainment) and it allegedly prevents Sega from releasing Phantasy Star Online 2 on Steam anywhere in the world for an unknown period. So, if Sega has plans of using Steam for the western PC release, they're kind of screwed and have to wait for this agreement to end.

What baffles us is that if this is the only issue preventing the release, Sega could surely work around it, using its own launcher and avoiding that Phantasy Star Online 2 gets so old that people will be playing Blade & Soul XV when it launches. So take this with a grain of salt, but it's better than the deafening silence we've been getting from the Japanese studio for years.

Phantasy Star Online 2 was originally announced for the west in 2012 but nothing happened in the meantime and it's not the bland anime that is going to make us forget that.