Neogaf leaked 2 days ago that SEGA has trademarked Shenmue 3 for consoles. This comes on the heels of Sega putting Ryo Hazuki in two sequels of Sonic All Stars racing (with "Shenmue 3" on his license plate). The Japanese PS4 debut commercial, showing a use interface with "RYO H" as the username. Finally, Mark Cerny did the translator work for Yu Suzuki at Suzuki San's Shenmue Post Mortem at Games Developer conference.
"Bring it, Bitch!!"
Previously, it was leaked that the Last Guardian was coming to PS4, and will be announced at E3 with another secret Sony Studio Japan game. Now I know Marc Cerny has a large prominent role in Sony studio Japan, so I was hoping and crossing my figures that the unannounced Studio Japan game was Shenmue 3. Now, it is extremely likely that is the case. With Yu Suzuki at the helm of the Shenmue project, studio Japan would do all the heavy lifting. The Old Shenmue team has split to the four winds by now, that the remainder of AM2 is probably neck deep in Virtua Fighter 6 right now.
Proof this isn't bullshit. http://www.gamepur.com/news/14743-sega-trademarks-new-shenmue-game-shenmue-3-confirmed-e3-2014.html