Personally we're still waiting for Yakuza 3 to get a Western release though. Which is looking increasingly unlikely. SEGA Europe have told VG247 that they have no plans to localise the game. This mimics the thoughts of a SEGA Of America employee who cited low sales for Yakuza 2 as a lack of incentive to bring the game to the West.
However, Siliconera are keen to stress that no decisions about the game have been made on SEGA's part, and while a localised version is unlikely, it's not impossible.
Better get emailing SEGA folks.