Not sure if this old news, but here's a scan from the October 1988 issue of BEEP! which shows Sega's release schedule at the time. 1988 was the last year Sega truly supported the Mark III/Master System in Japan, since they only released exactly one game in 1989 before discontinuing the hardware.
Highlighted on the page are Nekkyū Kōshien, Battle Wings (which was retitled Bomber Raid, the aforementioned final Mark III game in Japan) and Poseidon Wars 3D (which only saw an overseas release).
The release schedule is what's really interesting.
A few of the games listed did saw Japanese release. Namely Double Dragon, R-TYPE, Maō Golvellius, Sports Pad Soccer, Chōon Senshi Borgman (Cyborg Hunter) and Ys.
Other scheduled games were canceled in Japan, but released overseas. These were Outrun 3D, Rampage, California Games, World Games, Galaxy Force and Ultima IV. This helps explains why some of these games had FM sound support despite their western origins.
The three most interesting games on the list, since they were never released anywhere, are Phantasy Star II (apparently it was planned for the Master System before shifting development to the Mega Drive), Hot Rod (a port of the Sega arcade game) and Wolfman (I have no idea what it could be, it's possible it's an early name for a released game).
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