Shenmue creator Yu Suzuki has attempted to clear up any confusion surrounding the sequel's funding.

Shenmue 3 made its Kickstarter debut during Sony's E3 conference. It would pass its $2 million crowdfunding goal in less than a day.

However, with Sony and Shibuya Productions also involved in the project, fans were uncertain about how the game was being funded and who would receive their money.

In a lengthy update on the game's Kickstarter page, Suzuki apologised for the lack of transparency, before explaining that Sony and Shibuya Productions wouldn't receive any of the Kickstarter cash.

"Sony and Shibuya Productions have been wonderful partners because they believe in Shenmue and want to see the best for the fans and the game," he said.

"Their investment in (and support of) Shenmue have helped to realise a sequel that will stand proud with its predecessors.

"While it is not business practice to discuss the specific details of such arrangements, I can say that with their assistance on the production and marketing end, and in Sony's case with some publishing support as well, Ys Net is able to use more of the money we collect through Kickstarter purely for Shenmue 3's development.

"It is also important to note that your funds are going strictly to Ys Net for development of Shenmue 3 - Sony and Shibuya Productions are not seeing a cent of your Kickstarter dollars."

Suzuki also discussed stretch goals, confirming that $10 million in funding would allow the team to create a true open-world.

He continued: "Even if these Stretch Goals are not reached, Shenmue 3 will already be a sequel true to its name, and one we can all be proud of. It is my hope though, that together we can make this Shenmue just as revolutionary as the first two were."

Shenmue 3 is officially the fastest video game to raise $1 million in pledges on a crowdfunding platform, having achieved the feat in just one hour and 42 minutes on Kickstarter.

The game is planned for a 2017 release on PS4 and PC, and could be followed by two further sequels.