See also https://asiamedals.info/threads/1906-russo-japanese-war-army-triumphant-return-military-parade-commemorative-watch-fob.26031/
Size 21 mm.
Obverse
明治三十七八年戦役 - 1904-1905 War
凱旋観兵式参列紀念 - Army Triumphant Return Military Parade Attendance Commemorative
reverse
明治三十九年五月五日 - May 5...