It certainly is traditional in Japan. The basic lock design is also traditional in western societies but w/o the laminated blade and usually not with the Japanese blade shape.
I recently bought one. It is a special design by a knifemaker Goldberg out of I believe Washington PA. He has it produced by a factory in Japan. It has a V-2 steel core and is a basic friction folder. What makes it a little different is the V-2 steel, cobolo handle, sterling silver Goldberg symbol as a shield and a little higher polish level. He sells two sizes and two grades. Mine is the higher grade, the lower grade has a cheaper wood for the handle, no shield and lower level of polish. They run between $25 to 75.
As a knife it is functional. It doesn't have a traditional point, but like a sheepsfoot or lambsfoot the point on the end of the knife is very functional. I used the knife to cut-out and trim a sheath for a small fixed blade. Not the best for an apple, but for anything else it's great. The edge is sharp and holds it well. The core steel was supposed to be stainless, but it readily patinas with any acid fruit. It is hard and holds an edge long. Being a friction folder you cannot carry it in your pocket or it will open. Goldberg gives you a cheap sheath that could fit the knife better but is functional.
I don't know where to buy it on-line. Most versions of this style knife do not come with a sheath. This style is not really safe to carry or have floating around in a tool box w/o one. The pivot pin may be tight enough to hold the blade closed today, but after use it probably won't be tight enough tomorrow.
