Orange Hard Plastic Fishing Float

I found this Float in our shed in the barn. It was left by the previous owner about 40+ years ago.
It measures 40 inches in circumference, and seems to be made out of hard orange plastic. There are reinforced holders on each end for attaching rope or other such items. The manufacturer marks read Sanshin Float, Hi-zey L-M Dia. 30M.
This is what I know about the piece, any information you have would be much appreciated. I have looked all over the internet for more information and have come up empty.