Silvermoon Display
is a Rank-A Sword made from Iron
Name Silvermoon
Material Iron
Element Wind
Fused from 3 Moonblade
Attack Points (AP) 23
Defense Points (DP) 0
Stars 7
Rank A
Rarity Legendary
Sell Price (Sword Coins) 7.000
Sword Contest Points 210
Silvermoon Manga

In this scene, we have a blue-white haired woman nude in the water, likely bathing. Out of the corner of her eye, she sees something. She covers her chest with a small towel and reaches for a sword, which we can assume to be the Silvermoon. At this point, it is revealed to us that what she saw was a figure in the water. The next two scenes pan in to show a man with brown hair save for a large silver lock streak near the front, wearing seemingly nothing but a towel around his waist. It zooms in to show his face, showing both an earring in his left ear, and an expression of infatuation. The relationship between these two is unknown. The fact that her first instinct was to reach for her blade indicates that 1. She didn't know he was there, and 2. They probably don't know each other very well. However, the fact that he's unarmed and has such a non-threatening expression on his face tells us that he means her no harm. Perhaps future manga will help shed some light on what happened before and after this scene. 

One thing to note is that this male appears in several other mangas. His name is Ilec.