Not really, you have a M40C, that C designates it as a 2 cylinder outboard. Everyone else is talking about the M40D converting to a 50. The D designates that motor as a 3 cylinder.
Your M40C is a 29 cubic inch, 2 cylinder, single carb, Japanese commercial fishing motor.
The M40D is a 3 cylinder, 3 carb, 42.5 cubic inch recreational use outboard.
The first class I raced was Sport "C", the C designated the max cubic inch allowed was 30. The 2 cylinder Tohatsu dominated that class. The fastest I ever got mine to run was 60 mph. That is with a total, after race, weight of 650 pounds.
Look up Sport C on youtube.
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