Capcom's always-adorable Yoshinori Ono has made an appearance at Sony's PS4 unveiling to announce Deep Down (working title), a new IP.

It's based on a new Capcom engine codenamed Panta Rhei, and has dudes in armour fighting huge dragons. Well, until the end, when things get weirdly sci-fi.

More pics below.

Capcom Unveils New PS4 Fantasy Game Deep Down [Now With HD Video]

Capcom Unveils New PS4 Fantasy Game Deep Down [Now With HD Video]

Capcom Unveils New PS4 Fantasy Game Deep Down [Now With HD Video]