紀元二千六百年奉祝 - Celebration of 2600th [anniversary of the founding of the Empire]
第拾壱回 - 11th
退輜享生乗馬團競技會 - Riding Competition
Original case.
Watch fob was made by Nagawa Medal Works, Tokyo https://asiamedals.info/threads/badges-watch-fobs-and-plaquettes-made-by-nagawa-medal-works.23299/