Have seen the 'rising sun' mark with either 'Sterling' or '950' on mid 20th century Japanese pieces also bearing the name of 'Asahi Shoten', but the 'KY' is new to me...
I agree with what everyone else has written. Definitely Japanese, mid-20th century.
The maker is most likely Asahi, given that Asahi literally means "rising sun" and the symbol is readily identified as such. That said, I do not have an explanation on hand for why this piece bears the stamp "K. Y."
A Big thank you to all for the information. The rising sun made me think possibly Japanese.....i also looked at the K Y as Kentucky but guess thats far stretched as i know so little about American silver.