The picture, courtesy of NeoGAF's shaowebb, has a rather generic logo with the word "Spectrum" and a June 12th date below. Along the top of the image is some Japanese text which reads: "A New World of Entertainment."
Now a few have tossed out the incredibly slim possibility that Sega could be gearing up for a new console, but I'm fairly certain the company's console days ended with the Dreamcast. A more plausible possibility is that "Spectrum" is some sort of new digital service/platform for arcades in Japan.
What do you think? Let us know in the comments below.