Shuhei Yoshida Confirms PS Vita is Region Free
NeoGaf confirmed that the portable powerhouse of Sony the PlayStation Vita will be region free just like the PSP and PS3. Region free means you can play a game in any region (Europe, USA, Asia). And you don't have to do any modifications on your PS Vita for this to work out. A tweet reply from Shuhei Yoshida (@yosp) the SCEA Worldwide Studios President confirming to Leona Lewis of (@lonelypessimist) from NeoGaf that the PlayStation Vita will be indeed Region Free.
This is a great move by Sony making it Region Free, learning from Nintendo since the Nintendo 3DS is Region Locked. This is a pleasant news also for Sony fans waiting for PS Vita since they can also play games Exclusive only in Japan or USA even if they are in different region. Sony PlayStation Vita is Set to be launched at December 17, 2011 in Japan.
Source: IGN

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