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://asiamedals.info/threads/badges-and-watch-fobs-of-yomiuri-shimbun.29300/