It looks similar to this one that is identified as a possible Japanese Merchant Marine cap badge:
Yours does not have the Japanese flag behind the fouled anchor, and your laurel leaves are different.Believe for Japanese Merchant Marines. Hand embroidered of heavy gold bullion wire on black wool. Very fine quality. Shows only minor wear and age.
Exc + $ 75.00 RARE
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FOUND IT !!!!
WWII Japanese Navy Reserve Petty Officer's Hat Badge $55
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