original nec! 
They still have those, and other "Bazaru de Gozaru" goods (bags, etc.). I saw a whole bunch of them last time I was in Japan, but I can't clearly remember where I was (it was a storefront somewhere, probably Akihabara).
Although they created a PC Engine game for it, this mascot was used for a wide variety of NEC goods and services back around 1995, and for quite a while afterwards (perhaps even now, in some cases).
After some searching, I found this:
http://jpn.nec.com/bazar/In the "history" tab, it says that the characters existed since 1991, and there is a section called "premium goods" with 6 pages of Bazaru items.
http://jpn.nec.com/bazar/library/history/cm.htmlBut your watch isn't in there. Maybe it was a game-related limited-edition...
-Dave
