Visually speaking the sequence is Rufus's far LK and Rufus follows up with the animation of his close HK. However unlike his real close HK it launches the opponent.
Street Fighter IV Edit
In the SFIV series this target combo is mostly used as one of Rufus's ample ways to combo into "Space Opera Symphony". Newer players may try to use this as a substitute for his 1-frame main combo, however this is ill advised since it is unsafe on block and does not do much damage.
Street Fighter X Tekken Edit
In SFXTK this target combo takes a much larger role. It's main usage is to allow Rufus to continue a combo after a corner Galactic Tornado. It is also part of Rufus's highest damage no meter tag back combo. This can also be used as part of Rufus's Relaunch Combo as the juggle time allows Rufus to hit his opponent with his Launcher. As in SFIV the user should not use this target combo as a main source of damage. It's damage was nerfed in the 2013 update.