Japanese copy of BSA underlever (removeable barrel liner)

Japanese copy of BSA underlever (removeable barrel liner) 

With thanks to Kevin.

See also this archive entry for a similar stock inscription (although clearly different characters):

These pics thanks to Louis:

Louis says:

I think the quality of the original BSA product is much better, but hopefully this Japanese gun will be nice to shoot.
It has a screw in barrel liner. Looks like bronze, as with Sheridans.
It says "1" at the tap, and .177 on the cylinder, so I don't know why they used a liner. Probably cheaper to make?
The stock has some nice tiger stripes that will come out after oiling.
The metalwork is brown/grey. Perhaps I should leave it this way, but I don't really like it. I can already smell the cold blue, once I'm back in Holland.
The front sight looks like it's mounted the wrong way around. The downward slope should be facing forward, if I am not mistaken.

Google translate gives a translation that probably means: hunting gun, no license required

On the cylinder it says "SPACIAL GUN RARREL".