Capcom hasn't diverted all of their attention to fighting and action games. The company's still interested in RPGs too, as evidenced by today's announcement of a new PSP role-player dubbed Last Ranker.
It's not a new Breath of Fire, but we'll take it. Capcom took the wraps off what seems to be one of its first full-fledged RPG projects in some time today with the revelation of Last Ranker in Famitsu. Developed by Image Epoch, Last Ranker has you playing the role of a lad named Zig (yes like from the "all your base are belong to us" video) who lives in a society of fighters where getting to the numero uno rank for combatants is the greatest achievement in all of society.
Naturally, Zig wants to get to the top spot, and you'll have to move him there. That'll happen via an action-oriented battle system with real-time elements. No selecting commands from a menu here, since you just press a button tied to an action and that action plays out in real-time. The odd part is that even though attacks and such might be controlled directly, you don't have complete control over how Zig moves during battles.
Not sure how exactly this works out in play, but it does sound unique at least. And barring that, the game does have some heavy hitters on staff that might give it a shot at success. Matsukawa Minae of Phoenix Wright fame will produce, aided by a character designer from Devil May Cry 4 and Breath of Fire, a scenario writer from Final Fantasy VII and Kingdom Hearts and others. So yeah, you can expect all sorts of JRPG ridiculousness in the story, I'm guessing.