Not a lot of Japanese documentation exists for how these guns were mounted and how the mounts worked and in addition the firing arcs.
Since there is quite a bit more information on the Betty's waist guns and they are some what similar to the KI-67.
Plus both air frames were manufactured by Mitsubishi.
I will start with the G4M first.
Both have the blister that is removed and stowed with the aid of the horizontal mounting bar.
The horizontal bar is what the gun is mounted on in both air frames.
Betty waist gun pictures.
KI-67 waist guns.
The main difference between these gun mounting bars is the guns on the Betty could slide back and forth and locked into place. Where the KI-67 mount was fixed onto the mounting bar and could not slide back and forth at all.
The bar could pivot when the gunner would use the release handle & move the bar upwards or downwards as to where he needed it. This is a very cumbersome operation for the gunner having to use two hands all the time. The Betty rear gunner had to use two hands and both feet to operate that gun. Allies really had it over the Axis when it came to bomber defense.
Both bars could be pivoted for vertical slew.
In AHIII these bars are fixed and don't move at all.
When you look at the vertical slew on the Betty per this drawing it has a very good field of fire.
For the KI-67 there is simply not the same amount of information about to get all the information needed. I would find it hard to believe that a later more modern bomber manufactured by the same company would make an aircraft with less defensive capability's.
So where have I been going with this? Essentially I am saying there is not enough vertical slew for the waist guns on the KI-67,the horizontal mounting bar is the key to this ability yet no documentation really shows the firing arcs of these guns.
Photographic evidence shows that the horizontal mounting bar did move yet no photos show this ability with the gun mounted.
So I thought.
I looked through all of my photos and I did find one that I had overlooked and it was a captured and tested aircraft.
Clearly the above images prove that the waist gun mounting bar could pivot with the gun attached to it. In doing so the vertical slew firing arcs are better than what we have in game.
In summery I think the KI-67 waist guns vertical slew firing arcs would be on par or better than the Betty's & if possible should be changed in AHIII.