The RG540 features a basswood body bolted to a maple Wizard neck with a 24-fret fret maple or rosewood fingerboard with dot position markers. Components include Ibanez pickups mounted in a black pickguard with a V2 humbucker at the bridge and Super 8A single-coils in the neck and middle positions, and Edge double locking tremolo bridge and Gotoh tuning machines.
The RG560 is a similar model without the pickguard. The RG550 is a similar model with a humbucker at the neck.
The RG540 was offered only in Japan and was discontinued after 1989.