Obverse
賞 - Award
2AW - 2nd Air Wing
https://www.mod.go.jp/msdf/kuudan/2aw.html
reverse
海上自衛隊 - Maritime Self-Defense Force
第2航空群 - 2nd Fleet Air Wing Award Badge
1st variant of obverse.
2nd variant.
Reverse
航空教育集団- Air Training Command
https://ja.wikipedia.org/wiki/%E8%88%AA%E7%A9%BA%E6%95%99%E8%82%B2%E9%9B%86%E5%9B%A3
Another example.
Original case.
Additional column
海上自衛隊 - Maritime Self-Defense Force
Badges were manufactured by...