So, umm...

Pretty sure it''s the first.

I''ll guess ku-no-i-chi, because I''ve never seen an ''n'' symbol in the middle of a Japanese word.

The Japanese language is bent on pronunciation, and they don''t slur letters together like we do. This is basically because each of their characters is a syllable. Therefore there would be no "oy" sound coming out of a word. I think Beer Hunter has the best breakdown of it. It would be Ku-no-i-chi.