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I first encountered this 45 over on the remarkable www.officenaps.com site and here's what they had to say about it:

This track was a very early studio project for Japanese composer Nozomi Aoki, who would go on to score music for movies and television in his native land.

Recorded in Japan, this 45 was timed to cash in on the America's July 1969 moon landing. Sea of Tranquility is an astoundingly ambient piece of lounge psychedelia and is named after the crater where Armstrong and Aldrin landed.

Aoki went on to compose music for 70s and '80s Japanese movies like Little Adventurer, Harmagedon: Genma Taisen, Future War 1986 and television series Ginga Tetsudô Three-Nine, Josephina the Whale, Rock 'n' Roll Kids, Fist of the North Star and Hokuto No Ken.

Nozomi Aoki remains active as a composer in Japan, with recent orchestrations for, among others, the 2008 series The Galaxy Railways.