This may or may not be of interest to some people, but I decided to share my Shenmue II save files. During my last play-through in 2012 I saved to multiple slots, each slot representing a different disc, which in a way allows me to free-roam different locations without worrying about the story. If you copy all files from the folder to your VMU you'll also find that I've unlocked every street fight, mini-game, and arcade game in the Shenmue collection.
Link: https://mega.nz/folder/d49yQJjT#3EqMvuS_xHbRhouAGHVpMQ