Deep Water was a short-lived label of Sega that released mature-themed games.
The camera zooms in towards a red raft with a man and a woman in the ocean in the daytime with the shining sun and its reflection in the water. The screen then moves in aerial view of the boat and rotates. As it eases in, two sharks move toward the raft and swim by it. The man is dark-skinned and wearing a black scuba suit and the woman resembles Cammy from the Street Fighter series. It then cuts to a close-up of the woman's arm dangling off the boat. As it bounces, the two shark fins go by. It then goes to a front shot of the boat, where one of the sharks rises up and takes a bite, then going to the water with swirling blood, which the shark swims by that. Now in the water, with shimmering lights, the woman's severed arm floats downward off-screen. The words DEEP WATER rises from the bottom and rests. The shark then appears from the bottom and goes off-screen to the left and then comes back and stops above the company name (while a trademark "TM" appears). The shark and company name turn into silhouettes.
Scare Factor Edit
Medium to Nightmare, because of the subject matter and music, but given what follows this logo, it's likely intentional