Obverse
軍友 - Friends of the Military
役員 - Executive; Director; Officer; Official; Person in Charge
Original case.
軍友會 - Friends of the Military Association
役員章 - Executive's Badge
Badges were manufactured by the Asahi Murakami workshop https://asiamedals.info/threads/badges-manufactured-by-asahi-murakami-workshop.23879/.