That is not "rice", it is an original TRD body kit from an early eighties race series for RWD Toyota Starlets (or a copy), these cars unfortunately never made it to Aussie. These cars ran 155hp upright 4k engines, the series was short lived as Toyota decided racing was not the appropriate image for its economy car.
I believe the Toysport car has actually been repowered with a worked 4AGE and weighs bugger all so performance is not an issue.
Everywhere else in the world these cars have been a very popular basis for rallying and circuit racing due to there light weight, RWD layout, 4 link rear end and factory support from TRD. See http://www.club-k.co.nz photo section for a few more "rice" Starlets.