PC and mobile social game Shenmue City will act as a "sidestory" to the console series that debuted on Dreamcast in 1999.
Announced last month, the game is the first title from Ys Net, a company founded by Shenmue creator Yu Suzuki.
Sega will supervise production of the game, which will launch this winter, according to Andriasang.
Shenmue City will take place in Yokosuka, the same setting as the original Shenmue.
Details of the game's social aspects have yet to be shared, but it will be free-to-play and item-based.
Shenmue creator Yu Suzuki 'certainly' wanted to make Shenmue 3 for PS3 and Xbox 360, but has had to lower his standards to create Shenmue Town instead, ex-Sega dev Osamu Murata, who created the audio for the original Shenmue games, said last month.