It’s basically a widebody Autozam AZ-1 with a longitudinal mid-engine RE Amemiya-tuned Mazda 20B rotary. It was built as a show car for the 1996 Tokyo Auto Salon, but I hear it’s far from being all bark and no bite.
It looked RED before the current owner repainted and overhauled it in 2000.
It, allegedly, originally had the Ferrari F40’s brakes and the Porsche 962C’s transmission, differential and shocks. That was Japan before their economic bubbleburst for you. When it was updated in 2000, it was given bigger tires, a slightly wider rear and brakes taken from the Ferrari F50.
In 1996, renowned tuning company and rotary specialist, RE Amemiya produced another one off example for the Tokyo Auto Salon 1996, called the GReddy VI-AZ1 (named after its long-term partner, the sixth incarnation of their partnership project car), it was influenced by the AZ-550 Type-C but longer and wider, incorporating a 20B three rotor Wankel engine, mounted longitudinally. The only part of the car that has traces of the original AZ-1 is the gullwing door. The car uses suspension parts produced by Bilstein that can be found in a Porsche 962 and the brakes from a Ferrari F40. The car was rebuilt again in 2000 with the car now resprayed to white, also a wing replacing the ducktail spoiler of the original, also replaced was the tire with a slightly wider version, brakes are replaced by those from a Ferrari F50. The car have since then been sold on to a private owner in Japan in 2000 who repainted AZ-1 into white.