Does this trike have a spoiler for downforce?
According to this post from an owner the wing is for looks:

Earlier models came with an aluminum ‘wing” over the front axle, probably more for looks than anything, and a bullet-shaped, sports car-styled rear mirror on the left side.

According to the post the trike was made specifically for on track racing against like trikes.

MASA was a Japanese company, but targeted the US with this form of racing. In 1975 they finally brought a few of these over here and did some exhibition races between their own staff. It never really caught on, but they still imported about 1500 of these into the US over a three year period.

and later

Since these trikes were focused on track racing only against like trikes, the lack of braking and their size was not a problem. Their wide, long front end was thought to be better protection for the rider.