While browsing over on
Mobile Magazine, I came across this story about
RSVP (Rapid Serial Visual Presentation) - they flash one word at a time onto the screen for a very short time. Check out their
web-demo to get the idea. Not sure I would like this for full-time reading but might be useful when all you have is you mobile phone and a long wait
BuddyBuzz, who offers RSVP, has a
list of supported phones available (alas it doesn't seem to include any Japanese models).