This was Koichi Kawakita's first feature film as director of special effects. Directed by Seiji Maruyama Special Effects Directed by Koichi Kawakita Starring: Hiroshi Fujioka, Taro Shigaki, Tetsuro Tamba, Naoko Otani. 大空のサムライ 1976-10-02
You may be thinking of the similarly-titled "Zero" (1984): I uploaded that film's "newsflash" teaser a while ago. This particular trailer is new to my channel.