Some basic information about the series setting…
4K Media Launches Yu-Gi-Oh! Arc-V
Yu-Gi-Oh! ARC-V4K Media, Inc., debuted the newest generation of Yu-Gi-Oh! called Yu-Gi-Oh! Arc-V. The company is responsible for the global brand management, broadcast, and digital sales of the new series outside of Asia.
Yu-Gi-Oh! Arc-V, set to premiere this spring in Japan, will introduce fans to Action Duels, where characters and monsters interact. The newest star, Yuya, is a 14-year-old boy learning to become an “entertainment duelist” at one of the many Preparatory Schools children attend to hone their skills and become professional duelists. Yuya duels using the Pendulum Summon, which provides access to many high-level monsters.
Source:
http://www.anbmedia.com/anb-media-news/2014/02/anb-media-news-february-13-2014/
http://www.ltwmag.com/news/latest_news/4k_media_debuts_yugioh_arcv_at_kidscreen_summit.aspx
Thanks to J_BYYX at Neo Ark Cradle for pointing out this information!