No specific plans now, but the company is open to making one if fans show they want it.
Level 5 is a rising star in the world of Japanese RPGs with titles like White Knight Chronicles, but their foundations were built much earlier with games like the Dark Cloud series. Kotaku reports that the company is willing to return to their roots if they hear significant clamor from the fan community. "At this moment we don't have a specific plan for a sequel in the Dark Cloud series," said Yoshiaki Kusuda. "There are many staff members, including myself at Level 5, who have worked on the Dark Cloud series. There are some who decided to join Level 5 because they love the Dark Cloud series. So, if requests from users should increase in the future, we would seriously consider making it."
Dark Cloud and its sequel were celebrated gems of the last generation that merged traditional RPG elements with city building game mechanics. Right now Level 5 is probably most known for the Professor Layton series in America, but bringing back old franchises seems to be a trend we're seeing more of lately. Maybe Dark Cloud fans will see something on that front soon.