Valued at $15,000 to $20,000, the work was likely a study for a mural commissioned by the French government, People of the World, circa 1921.
The Japanese artist is proving popular with art collectors; his 1959 Fillettes aux Masques achieved $232,000 at a Sotheby's New York auction in May 2003.
Two Male Nudes is the highlight of the Fine Art & Antique Auction, which takes place online and at the company's Chester, New York State auction house.
Other works on offer include David Burliuk's signed oil on canvas, Fisherman, estimated at $10,000 to $15,000, Alfred Jensen's The American, signed and dated 1947, and Oscar Borg's California Forest, signed and titled by the artist.
Additional noteworthy works include Robert Rauschenberg's screen print-collage General Delivery, signed and dated 1971, valued at $3,000 to $5,000, and Cabs at the Plaza, signed and titled by Guy Wiggins, which is expected to achieve $2,000 to $3,000.
Works by Frederick Judd Waugh, Harold Arthur Roney, Merta Becket and Igor Razdroguine will also feature.
The sale also includes bronzes, silver, Chinese and antique-decorative pieces such as Christophe-Gabriel Allegrain's bronze figure Venus Au Bain inscribed "G.C. Allegrain 1767" with foundry mark "F, Barbedienne fondeur", valued at $3,000 to $5,000.
A Georgian sterling flatware set service from the mid-19th century is also expected to achieve between $4,000 to $6,000.
Check back here at Paul Fraser Collectibles to find out all the results later in the month.
- Click here to view our Art & Photography stock items for sale
- Learn how you can get pleasure and profit from art
- Read all the latest Art news
Join our readers in over 200 countries around the world - sign up for your free weekly Collectibles Newsletter today