Obverse
優賞 - High Praise; Special Reward
reverse
紀元2600 - 1940
航整校 - Aviation School
第一教育隊 - 1st Educational Group
読売新聞社 - Yomiuri Shimbun
Yomiuri Shimbun is one of the five major newspapers in Japan https://en.wikipedia.org/wiki/Yomiuri_Shimbun
1940
1st educational group aviation school award
imperialjapanairforce badge
imperialjapanairforce jetton
imperialjapanairforce school badge
imperialjapanairforcewatchfobjapanese army badge
紀元2600航整校第一教育隊優賞章