Part of the Music Link series and available in two identical versions : PH-1 in Japan, PH-22 elsewhere.
Both are much upgraded versions of the 1987 PH-95 which was export-only (itself follower of the 1982 Mc 1000) and the first to sport the "Music Link" name, and both lived through the last period of active japanese vinyl activity - Luxman was however far far more successful with its E-06 and E-06a...
Inside are two Marantz-tagged permalloy-core step-up transformers (for MC carts), Class A Fet differential circuit (for MM carts), one toroidal power trafo, select parts, gold-plated terminals, copper-plated separations resting on a diecast chassis closed by an 8mm front, 3mm top and massive diecast sides. Relays mute the output whenever the MM/MC and EQ settings are changed.
The output can be varied with a (somewhat awkward) back trim pot and the input stages can equalize for the three LP standards : RIAA, SP1 and SP2, plus a flat position for 78rpms.
Very rare but quite probably worth the hunting for the ultra-inclined.
Nudies of an european PH-22 here, a thread discussing the four EQ positions here and a JP PH-1 original here.