Honor Automotive Industry Co., Ltd., Yokohama, 1953-1954
This machine appears to have either been the product of a joint venture, or possibly started as an Asahi product which was then built by Honor Automotive. It was called the Moto Devil (モート デビル号) and according to the Japanese Motorcycle History was offered in two models: initially as a 90cc four stroke, and then as a 125cc two stroke. The two photos I have look a bit different, so both have been included here.
I appears that Moto Devil manufacturing resumed, or possibly continued from a company called Ishii Motor in 1957 (see this page).