Toaplan rights holder Tatsujin is holding a "special commemorative broadcast" on the Game Center Mikado YouTube channel from 8 pm (Japanese time) on Friday, October 4th.
During the broadcast, the company will also "be delivering the latest information on the 40th anniversary of Toaplan Arcade Masterpiece."
You can read more about Tatsujin's plans for the anniversary here.
Toaplan was established in 1979, but its gaming division wouldn't come into being until 1984. Its first two titles were Jongō (1984) and Performan (1985), but it was Tiger-Heli (also 1985) which put the firm on the map as a master of the shmup genre.
Other notable Toaplan shooters include Slap Fight, Truxton, Hellfire, Zero Wing and Batsugun.
It filed for bankruptcy in 1994, but its IP was acquired by former Toaplan composer Masahiro Yuge in 2018 via his company Tatsujin. Since then, we've seen updates of existing Toaplan games as well as special collections, such as the PC-based Toaplan Arcade Collection and Zero Fire.