There might be such a thing as a bad Nishiki, but I haven't met one yet:
Yes, that's an Olympic 12 (old photo, as is witnessed by the lack of chain and cables!). Not top of the line, but still a nice bike. If it's in really nice shape, fits you, and is ridable as is, it's not a bad price.
Welcome to Bike Forums and the Classic & Vintage forum, by the way!
East Hill