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Imperial Japanese Navy Discharge 退営記念 Sake Cup From Sailor Named 高橋 Takahashi:
$27.50
Text is read vertically 退営記念 "leaving barracks commemoration" on the right, this is standard honorable discharge terminology. Left text reads 高橋 "Takahashi", this is the name of the sailor who received this cup.
The anchor indicates production for the navy.
