Right, ok, well thankyou. So could be late WW2 hey. Thanks Teamski

Nice finds Mate! Picked up a 60's West German M1 to go with the 60's wool jacket

As always thank you for your expertise and time

I don't think it's very popular in the JP market. However, as shown in the URL below, there may be demand outside JP.   https://griffinmilitaria.com/product/sold-duty-ship-of-the-imperial-japanese-navy-flag/

Thank you, would this flag be a good collectible worth any good?

A direct translation would be "duty flag【当直旗／當直旗】".

Can you translate the writing on it?

My personal opinion is late WWII or more likely 1950's.  You had a good amount of formation signs in WWII that were printed.  I would be happy to have one like yours in the collection.  I think mine is paper backed which were also seen in WWII...   -Ski   P.s.  British Formation Signs are a lot more complex than US made patches, I can tell you that!

I think the red flag is the “duty ship of the IJN flag”.

Thanks!

Thanks I knew it was a Catholic themed pendant but I had no idea what it's for. Any idea of value? As I don't collect religious items it will probably be for sale

The pennant: It looks like "Katholische Limburger Studenten" (Catholic Students from Limburg) to me.