Yesterday Capcom held a presentation in Japan titled “Capcom Network Games Conference” to introduce the upcoming online titles in development at the company. Between other things (and a lot of social games) more information has been shared about Deep Down.
It’s being developed as an online game, and more details will be shared at Tokyo Game show where the game will be playable, as announced during the presentation. Only PS4 has been mentioned as a platform, even if the game isn’t yet explicitly confirmed as exclusive for Sony’s upcoming next generation console.
In addition to that, the company opened a teaser website for the game, that can be found here and identifies the game as a”Reading” (リーディング) RPG.
No offline mode seems to be present as an internet connection is explicitly required, and “Online Only” is mentioned as well.