Beautifully made and rare watch fob from a personal collection.
Reverse
支那事変記念 - China Incident Commemorative
自昭和十二年八月 - from August 1937
至昭和十四年十一月 - until November 1939
隼 - Hayabusa "peregrine falcon"
Marked
純銀 - pure silver.
Hayabusa was the third built Ōtori-class torpedo boat. It was completed on December 7, 1936 and sunk 24 September 1944 by US aircraft in Sibuyan Sea.
Combat history of Hayabusa
ja.wikipedia.org
About Ōtori-class torpedo boats.
en.wikipedia.org
Original case.
No labels or marks. Except K in circle on the edge of the case. Most likely watch fob was made by
Naigai Medal Works, Tokyo or
Kishodo workshop, Hiroshima.