JLQCD's dynamical overlap project

We present an overview of our project of large-scale simulations with dynamical overlap fermions. The first production run in two-flavor QCD is on-going using the Iwasaki gauge action on a 16^3 \times 32 lattice at the lattice spacing of 0.12fm with six sea quark masses down to m_{s,phys}/6, where m_{s,phys} is the physical strange quark mass. We briefly introduce our choice of the lattice action and simulation algorithm, and describe the present status of the production run. Preliminary results on the light meson masses and the static quark potential are also reported.