Quote…" Any guesses at what might be under the handle before reveal?"
My first reaction was "Greetings From China!" but I held back in case my ignorance was revealed. However, this type of grain structure is composed of alternating layers of higher and lower carbon steel. This is not a traditional approach to blade making in Japan. Also, as was noted, the layers show the effects of acid etching, a technique rarely used in Japanese polishing, and certainly not in this way. This is a nontraditional polish, as stones would result in a different appearance. Aside from the strange China-esque hada, the whole package just looks too "newly aged." I stand ready to be corrected if wrong.