I have never seen this figure before. I just happen to stumble across it at toy-world forum. I really like the design and also the blades.
Here's some details about this kit from HobbySearch:
The dark watchmen, Karas!!
From Tatsunoko Production's 40 year aniversary OVA 'Karas', comes a figure of the main character from the show, 'Otoha Karas', who threw away his individuality to protect the city. The design of the figure has been created by the popular designer of the Eko Karas, Kenji Ando.
Flexible materials have been used all over the body, creating a very poseable action figure that never loses its style.
The Karas sword in both its original version and expanded version are inlcluded, as well as exchangeable face parts
and an abundance of replaceable hand parts.
The ability to recreate scenes from the anime has never been this easy!