NHJ has filed bankruptcy in Japan. NHJ is known for it's innovative but low priced gadgets. The most famous is mayb the NHJ Wrist TV.

NHJ was incorporated in 1999 in Japan. Not much is known on why the business is bankrupt. NHJ developed digital cameras under it's Che-ez brand, mp3 players, portable video players and other gadgets. NHJ had the first MP3 wrist watch if I am not mistaken.
Brankruptcy does not necessarily mean the business and the products go away. Either they find new money or somebody buys the company to continue it. Worst case it will just go away.
Maybe the reason was that the Hello Kitty licensing fees where just too high.
More details on Watch Impress (Japanese). Translated by Tech Japan. First seen on Engadget. Recent NHJ product news included:
NHJ 1GB Candi MP3 player
NHJ Wrist TV VTV-201 now Available in Europe
NHJ launches 5GB Bluetooth Wireless MP3 Player