The Pokémon Company has seemingly set up a new subsidiary in Japan called 'Pokémon Works' after the company was registered on 4th March, 2024.
As spotted by Serebii's Joe Merrick, the exact purpose of the subsidiary is unknown at this time, though it appears as though its location is in the same building as ILCA, the development company behind the likes of Pokémon HOME and Pokémon Brilliant Diamond and Shining Pearl.
It's entirely possible that Pokémon Works could be linked with ILCA in some capacity, though the latter also has numerous dealings with Bandai Namco, so the location could well be coincidental at this point. Either way, hopefully we'll learn more about the new subsidiary from The Pokémon Company in due course.
At the moment, The Pokémon Company itself is comprised of three core entities: Game Freak, Creatures Inc, and of course, Nintendo. The company recently hosted a Pokémon Presents showcase during which it confirmed that Pokémon Legends: Z-A will be coming to the Nintendo Switch in 2025.