From Wikipedia
Raiden III (雷電III, Raiden Surī) is a revival of the classic Raiden series of scrolling shooter games. It was developed by the Japanese company Moss with some assistance and license by Seibu Kaihatsu which produced Raiden and Raiden II, and published in Japan by Taito in 2005. It has also been published in the US by UFO Interactive Games, in Europe by 505 Games, and in China by Soft-World International Corporation.
After a franchise hiatus of over 11 years following the release of Raiden DX, set in a universe different from all previous games and updated with a new look and feel. Raiden III is the first to use a new Taito Type X arcade system developed by Taito, instead of conventional arcade systems. New concepts are introduced, which includes a "new 3D scrolling system" that involves the camera pointing down normal to the player while the scenery moves in three dimensions: climbing, descending, and sometimes moving vertically. The blue Laser concept is more like a beam, instead of the ones seen in prior instalments.