It's a "Model 2 Tool Box for a Type 90 Explosive X". I don't know what X is, which is the 6th kanji from top. It is neither 光 nor 火, which are the closest kanjis existing in Japanese, but the character used there simply does not exist in Japanese.
Normally there should be a printed contents list on the underside of the lid, where normal characters (non-stenciled) are used. Having a photo of that should help.
Finally figured it out. The X is simplified form of 尖, an explosive detonator for a torpedo.
Awesome! I am a little surprised its not painted gray instead of green (which I normally see on mostly IJA boxes)?
The Type 90 Detonator was inertia-triggered and was positioned in location (B) in the drawing below.
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