This is a plastic Superman key chain released by Bandai in Japan in 1989. I bought this a long time ago… it’s the first Japanese Superman item I remember seeing in person at a toy show. The only Google result for the term “Kattobihero” shows an old auction result for a Batman version of this same key chain, so Bandai made at least two different characters.
The box art is just amazing; I love the bold/fun design on it. The front features what appears to be period stock art (Jose Luis Garcia Lopez?) that may have been redrawn. What makes me think that is the fine hatching on the hand.
Each side shows a photo of the product, and the back has a great fumetti/comic showing Superman transforming so he can fly.
The figure stands about 2-1/2″ tall and is sculpted in superdeformed (big head, tiny body) style.
The head tilts back like a Pez dispenser head to reveal a wheel which allows you to use Superman like a friction-powered car and “fly” him across the table. (Is this a Japanese culture thing? You can tilt the head back on the Korejanai Superman from Kotobukiya I featured a while back, too!)