1937 Imperial Navy Large Maneuvers Participation Commemorative Watch Fob/昭和十二年度帝國海軍大演習参加記念章

1st variation.

1937 Imperial Navy Large Maneuvers Participation Commemorative Watch Fob 昭和十二年度帝國海軍大演習参加記念章.jpg
1937 Imperial Navy Large Maneuvers Participation Commemorative Watch Fob 昭和十二年度帝國海軍大演習参加記念章.jpg


Reverse

昭和十二年度 - 1937

帝國海軍大演習 - Imperial Navy Large Maneuvers

参加記念 - Participation Commemorative

1937 Imperial Navy Large Maneuvers Participation Commemorative Watch Fob 昭和十二年度帝國海軍大演習参加記念章.jpg


1937 Imperial Navy Large Maneuvers Participation Commemorative Watch Fob 昭和十二年度帝國海軍大演習参加記念章.jpg
 
2nd variation (different stamp).


昭和十二年度帝國海軍大演習参加記念章.jpg
昭和十二年度帝國海軍大演習 参加記念章.jpg


The easiest way to dinstinguished between two variations is the form of two kanji 十二 / 12 .
 
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    1937 navy large maneuvers participation watch fob imperial japan navy badge japanese navy badge japanese navy maneuvers badges navy large maneuvers participation watch fob 帝國海軍大演習参加記念章 昭和十二年度帝國海軍大演習参加記念章
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