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May 30, 2017 11:29 AM EDT

The ones behind the highly-anticipated "Shenmue III" have recently announced that they will not be attending the upcoming E3 2017 event.  However, they have some good news for the fans who were waiting for some new information.

Development Team To Be Busy With Game

Game developer Ys Net recently revealed their latest monthly report of their work on "Shenmue III" and it confirmed that the video game will not be making an appearance at the upcoming E3 2017 event. The game studio explained that while they are waiting for their schedule to be finalized, they will be devoting on game development for the whole month of June. As a result, they will not be able to attend any shows, unfortunately, Dual Shockers reported.

New Character Now In Development

Aside from the bad news that the game studio announced, they also have some good news for the fans. They are now working on a new character for the action-adventure game, but it still has no name for now. The character reveal comes with an accompanying new development progress video, which can be viewed down below.

Watch video

The new character looks like a buff-looking guy with long hair and suspenders. The video showed that it is still in early development stages, but with some big progress due to the details of the new character.

PlayStation E3 Experience 2017 Revealed

In other E3 2017 related news, Sony Interactive Entertainment has recently announced that the PlayStation E3 Experience will be coming back for the upcoming event. It will start on June 12 and it will be held in over 85 theaters across the United States, Canada, and Latin America, according to the official blog of PlayStation.

For this year, the attendees will be able to bring home some great goodies from the screening like an exclusive poster and #76 from the PlayStation Collectible Card series. All of these items will be exclusive only to the attendees, which is why Sony advised that they should bring their tickets with them and show it to them to claim their goodies.

Check out the "Shenmue 3" Dev Room Progress Report Vol. 3 video below:

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