Created by manga artist Kazuhiko Katō, AKA Monkey Punch, Lupin the IIIrd has lived a thousand lives since his 1967 debut. A devil-may-care thief with a dazzling set of skills, the character has crossed over from comic pages to anime, live-action films, and even video games. Film-makers have to follow in the footsteps of such luminaries as Hayao Miyazaki and Seijun Suzuki; faced with this legacy, director Takeshi Koike has been charged with revitalising the franchise. Across an anime series and a trilogy of feature films, his visual approach has signaled a return to the original manga, characterised by dynamic, graphic lines and a darker sensibility.

Koike’s latest film, intended as the concluding chapter to his previous Lupin outings, is still wonderfully animated. For the newbies, there’s a 10-minute recap of the character’s past escapades, filled with madcap heists and blood-soaked standoffs. With his trusted crew by his side – including marksman Jigen, samurai Goemon, and vixen spy Fujiko Mine – Lupin heads to an uncharted island ruled by an immortal being called Muom. He falls into a maze of perilous traps, forcing the team to separate and combat demonic creatures, as well as longstanding foes.

The meticulous character designs for Muom and his minions are marvellously grotesque, and the combat scenes are thrilling to behold. But the plot feels painfully thin, jumping from battle to battle, giving little room for the characteristic banter between Lupin and his associates. Usually an active character, Fujiko is given very little action here: treated as comic relief, she runs around in skimpy pieces of clothing while the men do all the work. The narrative thread connecting this to The Mystery of Mamo, the very first animated feature of the franchise from 1978, is also tortuous. With so many callbacks to the previous films, this one is for the hardcore fans only.

• Lupin the IIIrd the Movie: The Immortal Bloodline is in UK cinemas from 21 February.