The tyres, and alloy rims, are marked 22 x 1&3/8", a size I have not seen before. I see they happen to be the same, perhaps 1mm different to 550A. ( http://www.moruyabicycles.com.au/contents/en-uk/d969_22-inch-tyre.html )
The Nexus hub generator is neat for a child's bike.
This looks like a private import to me. It looks like a registration number down near the bottom bracket. Only the Japanese could be so well organised. The Woods/Dunlop valves are also unusual in Australia, not sold on new bikes probably since about 1980.
The chain ring has 32 teeth, the single sprocket 14. It seems to move along at a good pace.
I wrote about the NS22 (Dec 15 2010): "The chain ring has 48 teeth. The five sprockets have 23, 20, 18, 16 and 14 teeth. This gives wheel inches of 46.3 up to 76.1."
The gearing on this little bike is somewhere between the largest and second largest cog on the NS22.
The basket is just sitting there for the photo, I had a spare one.
The seat is up just about as high as it can go. The seat and post are one unit, the end of the post has a bracket welded to it, then bolted to the seat, not the two rails as is normal. On the chain guard is written: "Blueberry".
It looks a lot like this French bike, said to be from Lyon, 1940s or 50s:
The lock has a key that stays in place when the lock is open. No charge for the bird dropping.
I am told by a Japanese friend that this is an "Anti Theft Registration from Kagoshima-pref".