As someone experienced with game industry timelines for 3D modeling I can tell you that this is false.

1) Conceptual design ( artist sketch on paper/ hand draw ) for all races = 3 weeks
2) Model that concept design with simple wire frame/few texture for ALL RACES = 3-4 weeks
3) Detailed sculpture for 3D model for all race = 2 months
4) Texture creation and lightning = 2 Months ( can start after #3 finish for 1 month )
5) Apply armor physic and touch up = 2 months
Try 3-4 weeks maximum for a complete character with a set of gear. Concepts and modeling taking a month? You'd better hope those concepts are in to me by the end of the day. That is an outrageous timeline.

On the other hand, this team is like 200 people and the more people you have the more time it takes to get shit done because simply organizing who does what takes time on its own. I've seen single artists complete entire character models with textures and animation in under 3 weeks.

Either way, the above example is unreal, and the amount of time Yoshida stated is unreal. There's an error somewhere in there, either that or the "entire set of equipment" thing is mistranslated.