Part of the smaller and later (and many) variants of the L-58A series.
Same basic Duo-Beta circuit, FET input op-amps for the phono stage to completely avoid capacitors, high-gain SEPP MC stage down to 0,2mV.
Also NF tone controls included in the NFB loop of the power amp section, low-impedance power supply and the soon-to-be-ubquitous phono straight switch to go even straighter from input to output.
Beautiful wood top and sideburns, magnificent all-metal front with green-glow muting "touch", reliable circuits - it makes music.
Briefly updated later on for the US market only as L-450 with a real wood enclosure and added LED meters. The L-48A followed the same route, becoming an L-48X in Japan and L-480 in Tucson, Arizona.