Nihonto Club

The characters are SA SA O TA ICHI (something).
Problems:
I don't think it says anything sensible in Japanese, but I could be wrong.
If it were a legit inscription on a Japanese sword, I would expect it to be written right-side up when the tip is pointing up. This is the other way.
The two SA characters look pretty much identical - I suspect that they are stamped, not chiseled.
The designs on the scabbard and handle are way too gaudy.
The tsuba (handguard) looks like a cheap casting, but it's hard to tell in the picture.

Pete