Family and friends gave flags like this one to Japanese soldiers in World War II as good luck tokens. The writing on this flag indicates its original owner was a Japanese Naval officer stationed in Nanjing, China and Kure Navel Base in Japan. An allied solider acquired the flag in Leyte, Philippines and brought it home as a war souvenir.
More information at: https://www.kansasmemory.org/item/225132