This is an old post... but just in case someone is looking for info...
I'm not familiar with that model, but most of the smaller Tohatsu motors (as well as Mercs and Nissan) have a "decompression" feature that relieves compression below about 200 RPM. So you'll get a low compression reading about 50 or 60 PSI if you're just using the pull-cord during the compression test. You need to disable the decompression feature to get an accurate test (detail in service manual).