Fans were overjoyed when Sega confirmed the news, but less so when they discovered segments of the game had been removed to make it more palatable for Western audiences. And while it's disappointing cuts have been made, Yakuza 3 still towers above the vast majority of software currently on the market.
Stepping once again into the shoes of Kazuma Kiryu - the former Yakuza boss with a heart of gold - the game starts at an unusually sedate pace.
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The opening few hours gently guide the player around the coastal town, with Kazuma running errands, taking part in side quests, looking after the orphanage and beating up the local bad guys with the usual assortment of golf clubs, baseball bats, and shop signs.
The core gameplay hasn't really changed since the 2005 original, with the same flaws still apparent - it's still far to easy to take fresh air swings in battle due to the game's clumsy camera set up, the dialogue scenes are stilted and firmly set in the PS2 era, while managing your inventory is still a bit of a chore.
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The combat lies at the heart of the experience, and when it clicks it's an absolute joy. It's incredibly satisfying, and helped enormously by the range of moves unlocked as you progress.
Special moves can be beefed up using experienced gained from normal bouts of fisticuffs, while more exotic combat moves can be unlocked by witnessing certain situations while wandering around town. Each deliciously over-the-top revelation always raises a smile, and my favourite - so far - is seeing a drunk Japanese businessman attempt to pole dance on a lamp-post.
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When not progressing the story, Kazuma is free to wander about the fictional sun-kissed resort of Okinawa, or explore the sizzling neon streets and alleyways of Tokyo's Kabukicho district.
Talking to people either results in learning vital snippets of information or starts a sub-quest. There are 80+ optional quests to take on, and each is wonderfully presented. From trying to resolve an argument about instant ramen noodles to taking part in a Samurai flick - in a lovely nod to Ryƫ ga Gotoku Kenzan! - there is plenty of content to get stuck in to.
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There's also a fantastic fishing game on the beach in Okinawa, which is beautifully done. With a large selection of sea creatures to catch, this activity could easily keep you occupied for hours.
These activities are completely optional, but are central to the Yakuza experience. It's a pleasure immersing yourself in Kazuma Kiryu's weird and wonderful world and you'll come away from it with a huge grin plastered across your face.
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However, it has to be said that Yakuza 3's environments are wonderful. Aside from Grand Theft Auto IV, no other video game city has felt more visually arresting. And, thanks to the game's excellent use of audio, Yakuza 3 drips with atmosphere.
For those who missed out on the first two games, video recaps are available from the main menu and are essential viewing to catch up on the story's central characters.
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Old school Shenmue fans will notice more than a few similarities and it really is one of the finest games released this year.