From the GDC Shenmue postmortem Q&A
Yu Suzuki took the very first question after his GDC Shenmue postmortem just now, probably knowing exactly what would be asked.
You can guess the question.
Suzuki replied, "Of course I want to make one if I have the right opportunity."
And that's that. He wants to make a Shenmue 3. We want him to make a Shenmue 3. He explained that he planned for 11 individual chapters to be released in his postmortem today. As you know, we've only seen two game releases.