From Shenmue - Wiki on Neoseeker

Any cameos from the Shenmue characters in other media.

Sonic & SEGA All-Star Racing

Ryo Hazuki is due to appear as a playable in this racing game, alongside other well-known SEGA characters. He is shown to race in either the forklift or the motorbike.

The game is due for release in early 2010 for Xbox 360, Playstation 3, Nintendo Wii, Nintendo DS and PC.