Japan’s Toppan Printing Co. has announced the development of its new CP500 printer, which it claims is the “world’s fastest printer for ID cards, student cards and admission cards.”

The CP500′s compact 340x320x435mm size is roughly a third of Toppan’s previous models, but it can handle items ranging from magnetic cards to contactless cards and contact IC cards with “improved printing speed,” according to Toppan.

Additionally, the CP500 is capable of printing with a resolution of 600dpi and features the company’s anti-counterfeit pigment ink technology.

Toppan hopes to launch the printer in August 2011.