Thank you very much for the insight... Makes a lot of sense. So basically the wrighting is all names of failmy to say good luck?(even fake id like to understand what it says)6) No place names
7) No unit designators
8) No dates
Apparently, there were a lot of fakes either created for sale to GIs who wanted a trophy but failed to capture one or which were commissioned by GIs who wanted a trophy but failed to capture one. Six of one, half a dozen of the other at this late date.
If I were you I would take comfort in discovering it is a fake. That means he didn't have to steal it from a living prisoner or....worse....rob a dead body for it. Nor does it hold the slightest bit of sentimental value for the descendants or surviving relatives of a Japanese soldier who died in the war and who might want it back, since it was a fraud from the get-go. This is a 100% guilt-free souvenir of the time, place, and era. Enjoy it.
Thank you for your help. Really nice being able to get information on this. Not sure how else I would have been able to do this. Thanks again.The four characters at the top of the flag is 武運長久[Buunchōkyū] "Good luck in battle". The rest are all family names(the names of the presenters in genuine ones).