和伊 is read as わい (wai) and means Japanese-Italian.
わい
wai
いわ
Italian-Japanese (e.g. dictionary)
おしょう
master (of one's art, trade, etc.)
わようせっちゅう
blending of Japanese and Western styles
わせい
Japanese-made
わさい
Japanese dressmaking
わせいえいご
Japanese word constructed of elements from one or more English terms
わやく
Japanese translation
わをむすぶ
to make peace
わかいあん
settlement
わかい
harmonious divorce settlement
わどく
Japanese-German (e.g. dictionary)
わしんじょうやく
treaty of peace and amity