The artwork has been created by Ippei Gyoubu who has been involved in Tokyo Game Show since 2010, and it expresses the keyword “change/transformation” of the TGS 2014 theme: Changing Games: The Transformation of Fun. This main character will appear in various communications in TGS 2014 to play a role of the character that represents the event.
Looks pretty cool. Here’s a gallery of previous TGS works by Ippei Gyoubu. This years TGS runs September 18-21.