These badges/medals were manufactured by Nagawa workshop, Tokyo
https://asiamedals.info/threads/badges-watch-fobs-and-plaquettes-made-by-nagawa-medal-works.23299/
Three classes are known for today.
Blue ribbon = 5th class
Orange ribbon = 4th class
Green ribbon = 3rd class...
Obverse
賞 - Award
reverse
海軍兵学校 - Naval Academy
In the center
勝て兜の緒を締めよ = 勝って兜の緒を締めよう
"After victory, tighten your helmet cords" i.e. even after a victory, prepare for the next battle and do not let your guard down.
At the bottom
通信 - Signaling/Communication
Original case.
Watch fob...
awardbadges
imperial japan naval academy
japanese imperial navy badge
japanese naval badge
japanese navy badges
勝って兜の緒を締めよう
勝て兜の緒を締めよ
海上自衛隊呉教育隊バッジ
海上自衛隊呉教育隊章
海軍兵学校章
海軍兵学校賞章
海軍兵学校體操體技賞章
體操體技賞章
