International Model Products (IMP), Japan, c. 1956 if my info. is correct. Produced in both 2 and 3-rail versions. I came across one several years ago that had the same open-frame motor and e-unit, and I had Frank Timko put in a can motor, electronic e-unit, and better pickup rollers. Before:
I replaced/added detail, painted/lettered, and voila:
It runs well, fairly slowly, through the original reduction gears. I love neat, unusual little engines like this. Have fun with it!