Plot
Death note light up the new world is the 3rd live action film based on the death note but the 4th film based on the death note franchise.
Plot from wikipedia: Set ten years after the events of the previous films, in 2016, society is afflicted with cyber-terrorism. The Death Note is a supernatural notebook that grants its user the power to kill simply by writing a person's name on its pages. Six different Death Notes fall to the human world, the maximum number of notes that can exist at once. In the midst of this, two new individuals inherit the DNA of Light Yagami and L and must play a deadly game of cat-and-mouse once again. - https://en.wikipedia.org/wiki/Death_Note:_Light_Up_the_New_World
My opinion
I'm really excited for this film, I loved the films and the anime series, never read the manga though. The visual effects for Ryuk look amazing which you can see in the trailer above. I really wonder if they will take more elements and characters from the anime series for this film or if this film is going to be completely different direction with just some of the same characters.
It will also be the last Japanese live action Death note film before the American remake comes out next year.