Font Squirrel and What the Font can't seem to find anything close to what this is. Most notably the "gaps" in the tops of the D and P as well as the small hole in the O. Quite distinctive so hoping someone can identify. From the 1986 album Dewdrops by Tetsuo Sakurai released in Japan, the inlay of the vinyl had this clear version of the text with no background graphics which helps.

bump!
This must have been a fairly standard font used in graphic design in the 80s.

There is a modern font from 2018 called Hoodie from Type Union, which has the "Hoodie Black" variety that is very similar, but without the gaps in the D,R and P. They describe it saying "Hoodie was born out of a love for retro Americana and vintage signs". Doesn't really help narrow down the original font it is likely based on. Another font called "Kiez" by Blackmoon Foundry is close as well, described as "a display sans and art deco font" and "inspired by shop and bar signage of the sixties and seventies".