It's not made by Toko, the most-typical type of 10mm slug-tuned "can". This one says "Mitsumi" on the top. Just a different design, looks like to me. The 2SC2075 final transistor was discontinued at least 40 years ago, plus or minus. This radio is an old specimen.
Even so, when the slug's top surface is even with the top surface of the can, this is almost guaranteed the max-inductance position of the slug. The protruding sleeve doesn't change that.
This also suggests another way to tell if the slug is "bottomed out" of adjustment range. There should be two peak positions of the tuning slug. One below the rim, another roughly the same distance above the rim of the hole. If you see this, the coil is indeed resonant at the peak. And if you see ONLY ONE peak, this means it's not really a resonant peak, just the slug's functional end of travel.
73