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If it is not Japanese, I wonder if it is Volupte because the form does remind me of the Volupte pill cases and powder puff cases (this is a powder puff case with a mirror inside and a powder puff on the other side)....
It says Volupte was bought out by "Shields Company of Attleboro MA in 1957" and I wonder if that mark has ever been documented?
If it is Japanese, that would be interesting indeed.
I thought for sure the Japanese sterling silver companies of the 1950s and 1960a would be listed, but they are a bit difficult to find, what we are probably looking for is a region of Japan beginning with an "S" and it would call itself "S in Triangle" silver company, similar to the example I found which called itself "Y in Yacht" and its symbol way a letter "Y" in a boat symbol....]]
Perhaps "S in Mountain" would be a good place to start, and we are looking for a city beginning with the letter "S"