No, it’s not Tony Stark in his Mark 1 armor. Nor is it an early attempt at filming Tetsujin 28 (Ironman 28 aka Gigantor); that would be some trick, as this film is from 1936 - twenty years before the Tetsujin 28 manga was published! And it’s definitely not the legendary lost Japanese film Robots Need Love, Too.
This is instead the first installment of a 3-part serial, Kai-Denpa Satsujin Kosen Dai Ichi-Hen - Ningen Tanku Shutsugen (Strange Electric Death Ray 1: Human Tank Emergence).
Not to be outdone by other countries that had pulp serials featuring robots on the loose, Japan’s Daito Eiga studio released their own version, replete with the usual suspects: a mad scientist, a damsel in distress, disfigured henchmen, a masked man, and the “human tank.”
The other two parts of the serial, Kai-Denpa Satsujin Kosen Dai Ni-Hen - Tenku Ko Kyoi (Strange Electric Death Ray 2: Deadly Sky), and Kai-Denpa Satsujin Kosen San-Hen - Seiun Kaiketsu-Hen (Strange Electric Death Ray 3: Clear Resolution) were released later the same year.