SPACE ROCKET FIGHTER X-1 - YONEZAWA - JAPAN

The toy is actually marked SPARK ROCKET SHIP. This is a copy of the Pyro hard plastic X-200 Pyro Space Ranger. This is a friction tin rocket jet with red and yellow detailing. It is a cross between a rocket and a plane. It has two short wings tipped with large engines, and the distinctive Pyro tailfin which extends above and below the body. The rocket sits on a box shaped friction drive mechanism. Uniquely a USAF star logo is cut into the sides to show the spark.
Two versions are known, blue and green.

See also the Space Jet Fighter version of this rocket.