A neat Japanese-made "Anglo" flashbulb unit. (The name is no accident--the Japanese producers understood their market very well.) The reflector segments collapse into a more compact form for storage, and also presumably to protect them.
Interesting that it used both a removable battery and a removable capacitor. That would certainly make replacing the capacitor easier, since those devices did fail after so many uses, as anyone who has experience with old automotive points-type ignitions will appreciate.