Judging by the manufacturer this is Osaka-related badge.
Specimen from the collection of Raymond LaBar. Photos courtesy of the owner.
Obverse
功 - Merit
reverse
功勞章 - Merit Badge
紀元二千六百年記念 - 2600th Year of the Imperial Reign Commemorative
紀元節奉祝會 - Kigensetsu [Empire Day (February...