I can't translate-some one who can read it will have to do that, but I can tell you that this badge-being silver-is the officers pilot badge(enlisted being in bronze) and that the writing is the pilot's name and rank. A fairly uncommonly seen badge. Very nice.
"Much that once was, is lost. For none now live who remember it."
Try this website....Army Pilot Badge Evolution - Japan - Gentleman's Military Interest Club
JEDEM DAS SEINE
There are many more fakes of this badge than original, but I like what I see.........!
I can't help on authenticity because until I read this I never knew such a badge existed. That is a fantastic badge design and great detail, thank you for posting.
Looking for LDO marked EK2s and items relating to U-406.....
It looks like your family name on the back is Horikoshi. The last kanji, lower left I cannot make out to complete the pilot's first name. The string of kanji on the right side states: 87th term/period. An unusual kanji to use imo, I would think class maybe roughly translated.