Many of the comments have been praising the kydex sheath, so I wanted to counter with a huge Thumbs-Up for the leather pocket sheath that's available for $5 less.
So $20 for a Japanese AUS8 knife with nice durable handles and a quality leather sheath? Hard to beat it for simple value.
Aye, the leather pocket sheath is superb for the price. It's also hilarious to watch the expression on the Waffle House waitress's face when I calmly extract a fixed blade from my pocket and go to cutting up my waffle with it.