These toys were designed by Takara in the late 70s. They were sold in the U.S.A. by Mego Toy Co. Some items were rereleased by Hourtoy as Inter-Changeables, and Lords of Light.
Prior to the late 70s most action figures were eight to twelve inches tall. The Micronauts were one of the first series to break this mold. The Micronaut figures featured a superposable 3 3/4" body. The size and design of the body of the figures was a major innovation. The smaller size allowed for a lower price point. This, in turn, allowed for kids to buy many different figures, and play with the figures en mass much like the toy soldiers of old. This play format was later taken advantage of in the Star Wars and 3 3/4" G.I. Joe series.
The small size of the figures also allowed for the production of more elaborate vehicles and playsets. This was fully taken advantage of in the Micronauts series. Large, city-style, playsets were produced. These featured interchangeable parts and could be expanded so that an enormous base could be built.
The Micronauts series was innovative in another way; it was accompanied by a story line. This set the stage for the toys series of the 80s that were promoted with cartoons, such as The Masters of the Universe and Thundercats. Although a Micronauts comic book was released in America, most of the Micronaut storyline was only available in Japan.