What is this board? IREM.....

My guess is one of these four. IREM made four games in 1988.

Image Fight M-72
Meikyuujima (developed by Nanao)
Ninja Spirit/Saigo no Nindou M-72
Vigilante (licensed to Data East) M-75

Since the board works, you might be able to derive what it actually is.
 
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