Cover Page: "Raccoon Dogs Draw Pictures Using Chopper As Their Model" requested by Mossari-san.

The Straw Hats arrive at the Kraken, and Luffy aims to tame it. Usopp is startled by the Kraken and tries to convince Luffy to give up his ridiculous idea' Chopper mentions that the Kraken has likely been alive for hundreds of years, and is almost "mythological". Coribou's ship arrives from behind and is annihilated by the Kraken. Luffy, Sanji, and Zoro get lifesuits made from coating and set out to tame the beast. While the crew is dodging the Kraken, Luffy uses Gear 3 and hardens his enormous fist with Armament Haki, while Sanji and Zoro run interference with their respective strengths. Luffy blows away the Kraken with his gigantic fist, and a shark emerges from the Kraken. The crew, with Luffy, Sanji, and Zoro on the outside, get sucked into the trench and end up in the Underworld of the Sea.

The chapter starts with the rest of the crew shocked by Luffy's declaration that he will tame the kraken. Luffy wanted to tame it, so it could pull their ship. Usopp and Chopper try to deter Luffy by pointing out the creature's immense size and mythical, legendary status. Brook comments that he, a meatless skeleton, feels like the antipode to the kraken. Franky says that the creature looks tasty, while Robin sketches it, much to Chopper's shock at everyone's calm demeanor, saying how rarely seen it is. Zoro says he would not mind catching it and asks Luffy if he has a plan. Luffy says that the problem is that they are in the ocean. Usopp contradicts him, saying that the kraken's size was the main problem, while Nami gives the order to turn the rudder to the south. Luffy tells her instead to head straight for the kraken. Nami points out one of the crushed ships and asks Luffy if he wants that to happen to them. Sanji backs up Nami, almost having a nosebleed in the process, but controlling himself at the last second. Usopp, who is shocked by this, commends the chef. Chopper explains that it is the result of his rehabilitation and the fact that Nami is wearing a coat. Caribou is shocked by everyone's behavior, saying that in this situation, running away would be the proper, expected thing to do.

All of a sudden, Coribou and the Caribou Pirates' ship reappear. Caribou is delighted to see his brother and crew. Coribou shouts that he will save his brother. Before Coribou can save his brother, one of the kraken's gigantic tentacles descends on and wraps around Coribou's ship, bursting the coating bubble and crushing it. Coribou and the rest of the Caribou Pirates are all in shock while floating in the deep ocean. The Straw Hat Pirates and Caribou are all stunned by this sight. Caribou seems devastated by the loss of his crew, saying "Ohhhh, my bastards". When Zoro comments that they all look like jellyfish floating in the water, Caribou tells him to shut up, calling him Roronoa. The kraken then turns its attention to the Straw Hat Pirates. Zoro starts to pull out his sword and Luffy gets ready to go into Gear 3. Usopp stops both of them, saying their attacks would break the bubble. Franky says that they will dodge it with Chicken Voyage. Nami tells Franky to use Coup de Burst to propel them into the current so they can escape. Franky says they cannot, as the amount of air required to use Coup de Burst or Gaon Cannon is limited. Nami then asks what they are going to do. Luffy says they will not do anything, since he is going to fight the kraken. Chopper begs him not to, saying the bubble will break. Caribou chimes in, saying if Luffy wants to fight the kraken, then he has a way for him to do it.

Luffy, Zoro, and Sanji are then covered in the coating resin, with a bubble forming around their bodies starting at their knees, with their lower legs simply coated without a bubble. The coatings act as diving suits. Caribou calls it "Barefoot Coating". Caribou goes on to tell them that the rope he gave them is their lifeline, letting them fight freely without being restrained by the ship, and so they do not have to worry about drifting away. Usopp is furious at Caribou, saying that they never asked for his help, saying that he ruined their plan to run away by enabling the Monster Trio to actually fight. Caribou retaliates, saying that he has been telling them to run away since they encountered the kraken. He then asks Usopp which idea he likes better: having them fight while on the ship or sending them out of the ship to fight. Usopp is convinced and tells Luffy to go and fight far away from them. Nami agrees, telling them that if they are going to fight, to do it away from the ship. Luffy states that the lifeline will get in the way. Nami protests, saying that they need the line, so they will not get separated from each other, but she is too late, as Luffy, Zoro, and Sanji have already left the ship. Sanji, delighted by the fact that Nami is worried about him, suffers a very minor nosebleed.

Luffy tells Zoro and Sanji to go ahead of him in order to buy him some time, saying he is going to take the kraken out with a single shot. Zoro replies that he will take the kraken out by the time Luffy is ready. Luffy says that slashing the kraken would be bad, since he wants to keep it as a pet. The kraken tries to attack the ship again. Franky counters it by launching rockets at the tentacle from his shoulders. Usopp, Luffy, and Chopper all marvel at the new upgrade. Another tentacle attacks the ship from behind, this one actually making contact. However, Chopper is able to counter it by quickly eating a rumble ball and using his new, much larger, Guard Point. Everyone is surprised by Chopper's development. Even though the ship is not damaged, the force of the attack was enough to send it toward a mountain. This time, it's Robin's turn to protect the ship. She said she should be able to use her powers for a moment even though they are under water. Her new technique, Mil Fleurs: Gigantesco Mano, produced two enormous hands, sprouting from the ship, which pushed it away from the mountain. Luffy then activates his Gear 3, imbuing it with Armament Haki, causing his fist to turn black and become hard. However, he could not attack, as the ocean was sapping him of his powers.

Sanji sees Luffy needs more time and moves to intercept the kraken's tentacle so fast that he actually broke out of his bubble with a technique called Blue Walk. Usopp and Brook are shocked to see Sanji move so fast, Usopp comparing the chef's speed to that of a fish-man. Sanji uses the memory of running away from the okamas for two years as motivation for his speed, even thinking the kraken was cute compared to the okamas. He then uses another new technique, Diable Jambe: Bien Cuit: Grill Shot. The attack hits the kraken's tentacle, burning it in the process. The scene then switches to Zoro, who is also attacking the kraken with a new technique, Santoryu Ogi: Rokudo no Tsuji. This attack cut one of the kraken's tentacles off after slicing it into six pieces lengthwise. Luffy then tells both of them to stop attacking as they are taking off the creature's legs. Luffy then hits the kraken with his new technique, Gomu Gomu no Elephant Gun. This is enough to send the kraken flying backward. As everyone is marveling at his strength, they all notice a shark that escapes from the kraken's mouth. The shark is wearing a Criminal brand t-shirt. Zoro notes its size while Sanji asks if it really has clothes on. Right after everyone sees the shark, the Monster Trio is sucked down by the Downward Plume current, along with the knocked-out kraken. The Straw Hats on board Thousand Sunny are also pulled into the current, as Nami tells them to keep the yards down tight and to not let up at all or else the ship suffer serious damage. After the ship is in the center of the current, it is shown that Luffy, Zoro, and Sanji are not too far ahead of them, still in their bubbles, Luffy apparently enjoying the ride.

Usopp was knocked unconscious at some time while the ship was in the Downward Plume. He is next seen waking up, after lying face-first on the ship's deck. He comments that they survived. He then asks why everyone looked so glum, also commenting on how cold it was. Robin tells him that Luffy, Zoro, and Sanji got separated from the rest of the group and they cannot find them, saying hopefully they weren't ripped to shreds by some monster. Usopp adds that even if they are alive, the air in their bubbles will not last for very long. Nami regrets that they did listen to her and did not take the lifeline. Franky states that it will not do them any good to just sit and lament, saying that they should look for them as he has a light function built in. Chopper asks if it was with Franky's eyes, but the light instead comes out from Franky's nipples. The chapter ends with a narration stating that the crew is in the Deep Sea, where no light can penetrate, and normal sea creatures are not allowed to exist. It is called the "Underworld of the Sea".

Chapter Notes:
This is the second time that some of the Straw Hat Pirates go diving outside the ship, the first during the Jaya Arc. Coincidentally, they are the same people: Luffy, Zoro, and Sanji.
Sanji, for the first time since their reunion, does not get a nosebleed from looking at Nami (who was wearing a coat over her bikini top).
The Caribou pirates' ship is destroyed by the Kraken.
Flutter Kick Coating is introduced.
Franky finally reveals one of his new weapons which is a rocket launcher.
Chopper's new Guard Point makes his fur even larger, large enough to block a Kraken's tentacle.
Oda made a mistake here, though: Chopper ate a Rumble Ball to change to Guard Point but the only transformation he needs the Rumble Ball for after the timeskip is the Monster Point (the mistake was corrected in episode 524 of the anime).
Oda made a mistake here, though: Chopper ate a Rumble Ball to change to Guard Point but the only transformation he needs the Rumble Ball for after the timeskip is the Monster Point (the mistake was corrected in episode 524 of the anime).
Robin's new technique, "Mil Fleurs: Gigantesco Mano" is introduced, which produced two enormous hands, sprouting from the ship, which pushed it away from the mountain when it was being attacked by the Kraken.
Luffy's use of the Armament Haki seems to darken his skin, making it hard and shiny.
Sanji's "Blue Walk" technique resembles Geppo, and he also appears to be able to swim as fast as a fish-man under water.
Sanji can heat up his foot even under the water and deliver a strong fire kick, enough to burn the Kraken's skin.
For the first time, Luffy uses a Gear 3 attack without saying "Gigant" in its name.
This also marks the first time Luffy uses a Gear 3 attack without reverting to his chibi form. He has done this a few times previously as well, but was later added in the anime version.
This is the third time that someone exits from the mouth of a sea creature that has just been defeated with a punch, the first being Pappag and Camie in Hatchan's cover story and the second being the same pair shortly after the Thriller Bark arc.
Luffy, Zoro, and Sanji are separated from the rest of the crew.
The others make it 7,000 meters below sea level, 3,000 meters away from Fish-Man Island.
When Sanji used his "Diable Jambe" he heated up his right leg, but when he hit the Kraken with his "Bien Cuit: Grill Shot" it was with his left leg.