Originally Posted by
mechBgon
It's a Fuji Ace. You need to lower the handlebar stem until its MINIUMUM INSERTION line is hidden in the steer tube, for your safety.
I assume that the OP knew that since it says so clearly on the downtube, but good catch on the unsafe too high handlebar.
to the OP, it's a mid-level bike of roughly 20-30 years of age based on the components. The Ishiwata tube set is the Japanese counterpart to Reynolds or Columbus ChroMo steel tubing, and the Sun Tour component group is B-C level, but pretty decent for it's era.
The bike looks nice and clean, and would be a decent sports bike if it fits you properly. And definitley lower the handlebars.