The Tsubaki Mk-III (椿Mk-Ⅲ) is the completed Tsubaki beam katana model. Its design is based on that of the D.O.S., the beam katana used by Travis' mentor Thunder Ryu, acquired by Travis following the death of Thunder Ryu. Unlike its predecessors, the Mk-III does not feature an extractable frame and is one of the only recognized beam katanas to emit properly without a receiver, another being the Cross Sword. An elaborate design of the kanji used to represent "Tiger" (tora) is used as the guard of the Mk-III's hilt. While not as powerful as the Tsubaki Mk-II, the finished model is the only standard beam katana that, with the proper motherboard attachment, operates at maximum energy efficiency and does not ever have to be recharged. However, while not as strong per hit as the Tsubaki Mk-II, it is faster and therefore has a greater damage per second (DPS). Once designed, Dr. Naomi sells the Tsubaki Mk-III for LB$498,000.
The Tsubaki Mk-III reappears in No More Heroes 2: Desperate Struggle, properly translated as "Camellia Mk. III". It does not have the same power as it did in the first No More Heroes, but it is still quite fast. The Tsubaki MK-I and MK-II do not reappear, though they are likely sitting in the drawer under Travis’ bed unused for some reason.