Watch fob was issued in 1935 or 1940 during Emperor Puyi visit to Japan.
Obverse
Orchid flower - Imperial Seal of the Emperor of Manchukuo
大滿洲帝國 - Dà Mǎnzhōu Dìguó /Great Manchurian Empire/
御警衛 - Emperor Guard/Escort
reverse
Firefighting unit emblem
御下賜金記念 - Imperial Grant/Donation...