The translation came from Isamu on j.aircraft and adds more info on the 92-2.
Translation from Model Art 655 Aviator Uniforms and Equipment of IJN, pp. 70-71:
----- Start Translation -----
Mechanical Bombsight (Type 92 Bombsight)
When mounted in the Type 93 Reconnaissance Float Plane this bombsight was offset 30mm from the centerline. After the Boykow bombsight was adopted, however, it was rarely used in frontline units, and mainly used for training. However, it is said that this was mounted in Type 1 Model 11 and 22 Rikko together with Type 90 bombsights. This sight did not use optics, rather it used crosshairs, so that if the target could be seen it could be bombed. Therefore, this bombsight was used until the end of the war because it could be used for twilight attacks. Made my Tokyo Keiki.
----- End Translation -----
This info came from ww2aircraft.
"Yokosuka K5Y/Navy Type 93 Intermidiate Trainer (Willow)
The aircraft was based on the Yokosuka Navy Type 91 Intermidiate Trainer, but stability problems led to a redesign by Kawanishi in 1933. It entered service in 1934 as Navy Type 93 Intermidiate Trainer K5Y1 with fixed tail-skid landing gear, and remained in use throughout the war. Floatplane types K5Y2 and K5Y3 were also produced. After the initial 60 examples by Kawanishi, manufacture was continued by Watanabe (556 aircraft built), Mitsubishi (60), Hitachi (1,393), First Naval Air Technical Arsenal (75), Nakajima (24), Nippon (2,733), and Fuji (896), for a total of 5,770. These aircraft were the mainstay of Imperial Japanese Navy Air Service's flight training, and as intermediate trainers, they were capable of performing demanding aerobatic maneuvers. Two further land-based versions, the K5Y4 with a 358 kW (480 hp) Amakaze 21A engine and the K5Y5 with a 384 kW (515 hp) Amakaze 15, were projected but never built."
I also found information that the Willow could carry up to 220# of bombs on external racks. As a mainstay trainer for the Navy it would make sense the 92-2 would be used on this plane. I have not found out if the plane actually was deployed in combat or if the K5Y2 and K5Y3 seaplane version were able to drop a bomb/s. They would have to clear the floats. A center fuselage mount seems possible.
It is beginning to appear that this sight could have been used on many different planes.