Badges and watch fobs made by the Nichiman Medal Works/日満徽章製作所

The name of this Tokyo workshop literally translates as Japan-Manchuria Medal Works.
Standard workshop labels.

日満徽章製作所.jpg
Nichiman Medal Works.jpg


NM in the center of the label stands for NichiMan/日満,where (Nippon/Japan) + (Manshū/Manchuria).

Workshop advertisement.

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