Yes, Hubert Bonisseur de la Bath is based on novels by Jean De Bruce. However, he is so similar to Ian Fleming's very well known English spy James Bond who is, by the way, funnier and more advanced.
In this Bond-ish movie, the action is not so good, it's average. The direction is not that well done; you'll watch the camera more than once (in the glass of some bus, and in the bathroom's mirror of the submarine..), plus the stunt man's face was visible too, and so on. The music isn't any fine. Frederick Stafford is trying to be, or forced to be, another Connery, and that dubbed voice was unfunny, but I think with some other director and writer, he would've done much better work.
You won't have a lot of exciting spying devices; only a little microphone and sunglasses which had a camera in it. And although it's French-Italian production, but it's not BIG one by all means, especially when all of the events take place just in Tokyo. The writing was mediocre, or maybe the surprises of 1966 are corny in 2007. For instance, someone shot Hubert in his bed to discover that it wasn't him; it was a doll under the blanket. Then, chasing Hubert to discover later that he was a harmless policeman.. etc.
The positive points were 2. The cinematography by Marcel Grignon, which was the classic rich shooting of the era. And Marina Vlady who stole the show despite not being the lead.
All in all, this movie is poor when you compare it to Bond movies. But if you measure it by its own desire to be amusing, then you'll find that it's a nice humble espionage movie, not too boring, silly or bad.
However, most of the global taste or mood will innately compare that French spy to the original English one, hence he'll be some sort of the fool cousin from France who imitates desperately his uncle's famous clever son!