This very rare Well Standard Model I Japanese rangefinder was made in Japan between between 1939 and 1942. Telescoping 65mm f/3.5 Well Anastigmat was made for N.K.K. The NKK shutter has a black front plate, inscribed NKK at the bottom, and T, B, 150, 100, 50, 25 speeds. All speeds sound right, but I have not tested the camera with film.
Takes 127 film.
The camera is in good vintage condition. Some of the leather has worn away, exposing the black metal body. The lens appears fairly clean, but does have a few smudges.