Interesting flag. I can't find a clear recipient's name on this. It may have been left off, as the recipient would have been obvious - unusual, but not necessarily out of the question.
A good number of patriotic phrases around the flag, and then the rest are names of the signers. There are a number of military members who signed the flag with their name and rank, so we can guess that the recipient was already in the military when he received this (as opposed to someone who just enlisted or was just drafted).
You might want to contact the Obon Society, who repatriates items like this one. Another option is contacting the nearest Japanese embassy, which also has a program for repatriating war items.