[Unanswered]  Saizo's stock photo bit beast

I'm looking for information on a really old bit chip. It's the one on the stock photo of Ultimate Saizo, pictured here.
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Checking on Mandarake, it's advertised on the japanese box to have Saizo, some frog monster with japanese clothing, and a dragon-like monster; no picture of the one on the stock photo and checking the ones that show the contents there's only the bit beasts advertised on the box; so my guess is that it was a weird error from Hasbro's photographer.

If it's of any help finding this guy, I first knew of its existence from a bootleg Bearing Stinger starter pack I bought when I was like eleven years old. It came with two stickers, both with pretty terrible drawing quality (think of a badly drawn vector image with circular fades for the colors); one was naturally Metal Dragoon and the other was this guy.
My theory is that it's one of the mystery bit beasts from the japanese release of Bearing Stinger.