In the center of the badge we see the corporate emblem.
On the left is the emblem of Great Japan Weapons Co., Ltd.
On the right the emblem of its successor -
日平産業/Nippei Industries Co., Ltd. (renamed in 1945).
Source:
Nippei Industries Forty Years History
Great Japan Weapons Corporation was established in 1938 (100% of its stock belong to Urawa Dock Company
https://ja.wikipedia.org/wiki/浦賀船渠)
Among other things corporation was manufactured type 99 Mark 1 machine guns and Type 99 Mark 2 machine guns (japanese versions of the Oerlikon FF and Oerlikon FFL autocannons) that were mounted in the wings of the famous Mitsubishi A6M Zeke/Zero fighters.