The Titlist rear derailleur dates to about 1974-75 per Berto in The Dancing Chain book. It was second to the Crane model. Frame with those lugs looks similar to a Nishiki or Centurion from that era. I agree with JCPenny as being the likely source (they used to use sports logos of that fashion), so maybe a higher end model (of JCPenny) coming from the same factories churning out similar Japanese badged bikes.