Vintage Japanese Tool: Large Hole Punch Laminated Forged Iron

This is an antique Japanese hole punch. It is a large (3/4" - 2 cm) size punch made of forged iron. It was probably intended to punch through leather or?

It has been well used yet well loved and is still sharp. This punch remains in very good condition. Overall it measures 4 3/4" long (12 cm) with a hole that is 3/4" (2 cm) in diameter.