Recipient's name is, I think, in the top right quadrant in the medium-sized handwriting. Yamamura Kiyomichi, maybe? That is my guess, but I can't read the third character. Also, there is no honorific attached to the name, which is unusual, so I could be wrong.
The big letters vertically down the right side are 肉弾行 nikudan kō, basically a slogan telling the recipient to be ready to be a human bullet and give up his life for his country.
In the lower right quadrant would be the name of the presenter, Saitō Yasutsugu, of the Hamamatsu Marines.
Most of the rest are names. Nothing about it looks obviously fake (to me). The "human bullet" slogan is very unusual. I looked online for this "Hamamatsu Marine" regiment, but I couldn't find anything. So my wildest guess is that its good, with a certainty of 65%-70%.