Top text reads凱旋記念 "commemorating triumphant return"Bottom text reads上海事変 "Shanghai Incident" This is referring to the 1937 battle of Shanghai fought fromAugust 13, 1937 toNovember 26, 1937. More than a million soldiers fought in this battle and there were roughly half a million casualties. This was the largest battle in theSecond Sino-Japanese War and the largest urban battle in the history of earth at the time.
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