Looks like the canonical SysEx checksum algorithm from Roland.
http://midi.teragonaudio.com/tutr/rolsysx.htm
When calculating the Checksum for a “Data Set 1”, you must add up the 4 address bytes and the data bytes. Then you divide by 128 and take the remainder. Finally, you subtract the remainder from 128. You should end up with a value of 128 or less if you did it correctly. This is the Checksum. If the Checksum is 128, then substitute a value of 0.
It seems checksum value is ignored in more recent products (Jupiter-X/Xm Juno-X at least).