Antique store find. I could go find some kind of translation forum, but before going to the trouble, thought I'd tap the brains here. For all I know, I'm showing it upside down.

If no knowledge of Japanese, any idea where I could get this read online?

 

I'm expecting something a little less Yankee-friendly. This is the reverse of the medal:

 

very much Gavin, thanks! So some sort of tchochke for supporters of the Nippon Kaigun. Interesting.

 

1932 according to the inscription. The Japanese were just starting the agitations in China that led to the Sino-Japanese war.