Hi Dave,
I'd agree with what Steve says - if the signature is good, the most likely candidates are a couple of smiths whose working life was from the early to late 1500s. This is from Markus Sesko's eSwordsmiths of Japan:
MASAKIYO (正清), 3rd gen., Tenbun (天文, 1532-1555), Bingo – “Bishū Mihara-jū Masakiyo” (備州三原住正清)
MASAKIYO (正清), 4th gen., Tenshō (天正, 1573-1592), Bingo – “Bingo Mihara-jū Kai Masakiyo” (備後三原住貝 正清)
The signatures quoted, however, aren't an exact match for the one on yours. That doesn't automatically mean that yours has been faked as Japanese sword smiths varied their signatures but my gut feeling is that the condition of the signature seems too fresh for a blade from this time frame. That's just a feeling though.
I'm not an expert on the various flavours of rust but I wonder whether it might be worth trying to do something to limit the damage to the blade. What is often quoted is to wrap the blade in newspaper soaked in oil and leaving it for a week or two. When unwrapped some of the rust should come away and the detail in the blade may be revealed to some extent. Perhaps others can chip in with some advice on this.
DON'T DO ANYTHING WITH THE TANG! Sorry to shout but cleaning the tang is a big no-no with Japanese swords as the patina is an indicator of the age and affects the potential value of the sword and should be left in place.
Best,
John