Yes, it is for a handcrank. To use it you need a crank and you need a steady bracket on the front bumper. If your front bumper is stock there should be a pair of holes on top of the bumper just to the left (facing forward) of center. These holes are for mounting the steady bracket. The cranks were an accesory that came with the FJ45 pickup truck (at least here in Canada). You used to be able to order them from Toyota, I had one for my '76 FJ40 and I made my own steady bracket.
When using it the crank fits through the steady bracket and under the bib and radiator to reach that special nut you show. I tried it , it worked but it is not easy and is kind of scary.
Have you ever had the lawn mower pull start rope jerked out of your hand when trying to start it? Well magnify that numerous times for larger motors. I grew up with an International Cub tractor (a whopping 12 HP out of 4 cylinders) that we frequently crank started because the battery was dead. NEVER, NEVER, NEVER wrap your thumb around the crank handle. ALWAYS keep your thumb beside your forefinger when you put your hand on the crank so that when the motor kicks back and tries to wrap your arm around the crank the handle can be pulled out of your hand. Like rockcrawler said many people have ended up with broken arms. When the kick back occurs it happens so fast that you can't let go of the crank if you have your thumb around the handle.
thanks for all the info,
i am well aware of the dangers of manuely starting an engine, the old neighbor had an old dozer that you had to stick a big pry bar in the flywheel and jump off the side to start. very dangerous. a way to make this a little safer is to tie a rope around the crank and pull on the rope, just dont wrap the rope around your hand.
These things have been around for donkeys years and no matter what the design a fair amount of caution is required when operating them. Bruises, broken fingers, wrists, arms, noses, smashed teeth... list goes on. Not trying to turn anyone off them, in fact I think they are a great idea myself but you should know some facts about them. They will make you curse but between having a crank handle option to start your engine and no option at all...