Army War College Graduation Badge https://asiamedals.info/forums/army-war-college-graduation-badges.640/.
1st variation.
Obverse
Japanese guards unit emblem
reverse
近衛歩兵第一聯隊 - 1st Guards Infantry Regiment
在隊記念 - Military Service Commemorative
guards badge designed after war college badge
imperial japanese army badge
japanese guard unit watch fob
japanese guards regiment badge
japanese guards unit badge
在隊記念章
近衛師團在隊記念章
近衛歩兵第一聯隊在営記念章
Badges with a similar design https://asiamedals.info/threads/manchurian-incident-commemorative-badges-and-watch-fobs.23177/page-3#post-349361; https://asiamedals.info/threads/badges-and-watch-fobs-of-kwantung-army-flying-corps.20131/ ...
guards unit badge
japanese army badge
japanese army watch fob
japanese guard unit watch fob
japanese guards regiment badge
japanese guards unit badge
大元帥陛下御親臨陸軍始観兵式章
聖戦記念章
近衛師団御親閲記念メダル
近衛師團在隊記念章
近衛歩兵第一聯隊在営記念章
近衛歩兵第三聯隊章
近衛歩兵聯隊章
近衛聯隊章