As you can tell by the name, the device is the sequel to the Phone Strap first-gen, and the second generation measures a tiny 32 x 70 x 10.7mm, and tips the scale at merely 32 grams.
The device has a 1-inch display and lasts for two hours of talk time, or 12 days on standby. The whole idea is to have it strap to your main phone as a backup device, though, so it is not exactly a standalone gadget. Needless to say, this will be a Japan exclusive.
source: Willcom via The Verge