We already got the aluminum backplate of the next generation iPad as well as its iPad mini-style front leak out, and now the two have been assembled together as a shell for your viewing pleasure by the Apple-centric Mac Otakara blog from Japan...
Source: http://www.phonearena.com/news/The-iPad-5-shell-gets-assembled-for-the-first-time-thin-and-narrow-video_id46068
Source: http://www.phonearena.com/news/The-iPad-5-shell-gets-assembled-for-the-first-time-thin-and-narrow-video_id46068