Information surfaced on 17 April 2018 that JR Shikoku was planning to produce four more diesel multiple unit cars for use on a variety of lines on the JR Shikoku network. Information from a presentation from JR Shikoku's stakeholders appears to have leaked out around the same time, titled "New 2700 series Limited Express diesel railcars scheduled to be introduced in December 2018"; JR Shikoku neither publicly confirmed nor denied this at the time.
Despite JR Shikoku not confirming or denying the existence of the 2700 series at that time, a Tweet dated 24 May 2018 from Japanese Twitter user rixyou0 appeared to confirm the existence of the 2700 series sets; in the aforementioned Tweet, images of a 2700 series cab car are seen being built at Kawasaki Heavy Industries' Hyōgo Plant, along with a scribble in what appears to be white paint on the front of the cab car, which translates to "2700 series No. 4 Mc". The caption of the Tweet is loosely translated to "Today's picture is of a 2700 series cab car. Reconfirmed due to it facing forward. Slightly lower roofline?". This was later confirmed in a YouTube video where a car numbered 2751 was constructed.
One set has been confirmed to have been constructed as of October 2018. The bogies that are to be used on the 2700 series sets are currently being tested on a 2000 series set. Details of the train were officially released on 26 November 2018, while the first promotional shots of the train were shot on 23 January 2019. The train is planned to enter service in Fall 2019. A total of 40 cars are planned to be produced by 2020.
Adopting a "neo-Japonism" concept, the set is said to "combine traditional Japanese craftsmanship with modern styling". The appearance of the sets is identical to that of the 2600 series sets, although they have a slightly different paint scheme; the main way to tell the 2600 and 2700 series sets apart is that the 2700 series sets have two very prominent lime green wing-like designs on the cab. The deep red color is supposed to represent Shikoku's rich history, along with the color transitioning from gold to green; the motifs on the side are supposed to give a feeling of speed.
Little information about the sets is known at present, although what can be gathered from the images of the cars being constructed is that the 2700 series sets will look very similar to the 2600 series sets, with the car bodies also appearing to be made of stainless steel. The sets will also have a tilting system, although it is unclear which sort; the sets will most likely use a bearing-guide pendular tilting system as opposed to the pneumatic tilting system on the 2600 series sets, as it was stated that the pneumatic tilting system was not working as it should. The interiors of the trains received some improvements, such as bigger foldable tables and the addition of a wheelchair space.