Foliage looks good but stems are in terrible shape - if it were mine I would remove it.

And I’d keep it 😉 Your choice. It’s a beautiful tree and personally I find gnarly trunks which show the vicissitudes of their lives beautiful too. It’s a small tree so if it falls it’ll do little damage.

lets be clear.. its up to you.. but it never going to recover from those injuries .. and there i nothing you can do about it ...

tree time is counted in decades.. and this tree is dying.. in tree time ..

one has to wonder what the heck happened to it.. all those years back ... crikey.. every trunk has a horrible wound

ken

ps: im not sure its a JM ... but i need more coffee

Look at the leaves, Ken. What else could it be?

Absolutely no doubt about it being a Japanese maple! Also no way to go about 'saving' it. It is what it is and is well beyond anything you can do to help it. But it could remain looking pretty much the same indefinitely....or conversely, contract some sort of pathogen of the many JM's might fall prey to via those bark wounds and decline rapidly.

I'd enjoy it for now but you might want to think about replacement down the road.