In the same post on the Playstation Blog that announced the happy news of more Persona titles coming to the west, some not so good news has appeared. Speaking directly in the comments section, Atlus PR Manager John Hardin confirmed that Demon's Souls 2 is "100% not happening :("
This is due to the fact that Sony still own the rights to the Demon's Souls IP, which is coincidentally the reason From Software started working on Dark Souls in the first place. Sony wouldn't allow a Demon's Souls game to be anything but an exclusive to their system, so From Software started the new iteration of the Souls series to get around this issue.
Fast forward to present day, with Dark Souls 2 just on the horizon, and its predecessors earning a whole lot of fame and recognition for being brutally difficult and surprisingly deep. It's no surprise that rumors and questions are floating around about whether Demon's Souls would receive a sequel, but it just doesn't seem to be in the cards, folks.
Hardin followed up his statement on the blog by saying Demon's Souls 2 was "Sony's call", and that the IP is apparently one big "Gordian knot" over there. So, chances are we will never see a direct sequel to the start of the Souls series. But Praise the Sun, dear viewer, for Dark Souls 2 is DEFINITELY almost here!