Aquastar is a blue and light-blue redeco of the Powermaster Nebulan Hotwire. He was sold in a small box in Japan as part of the Super-God Masterforce series, along with the other separate Godmaster engines Bullet and Zetca.
Just like the Japanese exclusive Headmasters, there were also Japanese exclusive PowerMasters/GodMasters. Released in 1988, Aquastar was only available in Japan as part of the Super-God Masterforce portion of the Generation 1 toy line. The figure comes complete in the box, the box shows some signs of wear from storage and age, but the figure is in great shape, and the joints are all tight; no "Floppy Powermaster Legs" on this guy.