Ah, yes. Punch Out! When I played it, the game was Mike Tyson's Punch Out! — which was later changed to simply Punch Out! when Tyson's contract was up and when he got into legal trouble. Video Game Comedy site The -Minus World has a look at the game's stereotypes, tongue planted firmly in cheek:
Hey, have you ever had one of those friends that says something really racist against black people but stupidly tries to placate everyone by assuring, "Dude it's ok...I have friends who are black." ....or maybe you have a friend that hits woman but eases your fears because you know his mom is a woman so it's all good? Well along those same lines, Nintendo throws in Piston Honda as a red herring to allay any suspicions that Punch Out is racist. I recommend that you intentionally go two rounds with Piston just so you can read him nonsensically utter "Sushi, Kamikaze, Fujiyama, Nipponichi." Yeah. Japan basically kicks itself in the nuts here.