日 (rì): This character is a pictograph of the sun. It also means “day” or “daytime.” Think of it as a square representation of the sun's shape.
本 (běn): This character originally depicted a tree (木) with a mark at its base to indicate the “root” or “origin.” By extension, it means “source,” “foundation,” or “origin.”
When combined, 日本 (rìběn) literally translates to “sun's origin” or “source of the sun.” This is a classic example of an exonym (a name given by outsiders), reflecting the ancient Chinese perspective of Japan being in the direction of the sunrise.