This is a pleasantly distressed, early, example of a drop-out mounting SunTour Wide derailleur manufactured for SunTour by a company called Iwai. The small enamel badge riveted on just below the drop-out says ‘SunTour Iwai’.
The underlying design remains a version of a Huret model. As ever, though, this Suntour is a well executed example of the genre.
As they might say in a Jaeger catalogue, the autumnal tones look well on a derailleur of a certain age.