Well, I had to drop this in given that the craft in question is leased by a firm (Elitop) who are located in my neighbourhood.
Originally on the Japanese register this craft seems to have been bought by Russels Farm of Watford in 1994 but by 2009 had been acquired by Giuseppe Mazza (who's initials appear for'ard of the exhaust) and who brought the craft to Italy but, for reasons I am unaware of, has elected to maintain her on the British register. As mentioned, she is currently leased by Elitop of Montichiari which is south-east of Brescia (east of Milano) and roughly halfway along the road between Brescia and Lago di Garda (Lake Garda).
She is pictured in Albenga which is part of the Italian Riviera known as
Il Riviera delle Palme (the Riviera of palms) in the Province of Savona.
AS350BA G-FIBS (formerly JA9732) at the Aeroporto di Villanova d'Albenga on 24th July 2011 (Photo: Luigi Maccio)