The idea of TransferJet is the same as NFC. It is designed for extremely short range (a few cm at most) one-to-one connections and data transfer. The thing is that where NFC has a maximum throughput of about 424Kbps, TransferJet has a maximum throughput of 560Mbps. Additionally, NFC uses the globally available and unlicensed radio frequency ISM band of 13.56 MHz, making it easy to implement without interference. TransferJet uses the 560MHz band, which is part of the cable TV spectrum in the US, but because of the low power there is no real problem with interference. Because of all this, NFC has found itself as the go-to protocol for things like mobile payment systems, or security badges, but TransferJet has become the go-to protocol for wireless syncing of devices... in Asia. It has been built-in to many digital cameras, laptops, etc. and now Sony wants to get it into Android devices as well.
To that aim, Sony has developed a TransferJet chip, which it claims can achieve reliable real-world throughput of about 350Mbps, and Sony has also developed an Android SDK. It is expected that Sony will be demoing the new chip at MWC. TransferJet is managed by a consortium headed by Sony and including other mobile manufacturers such as Samsung, Toshiba, NTT DoCoMo, SoftBank Mobile, Canon and Panasonic.