Hi, i have seen a few but all poorly made.
Does it have any maker marks?
Is the focus on the Nazi flag bad or is that just the condition of that part of the flag?
I thank you for posting the photo! I am interested in these type of period items. That would be a Spanish pin? It is interesting because most that I have seen don't have both Japanese & Portuguese flags. The Portuguese government (Salazar) did not like the Japanese government!
Many thanks for your nice comment and for your interest in these items! This is actually a Spanish pin, at least I purchased it in Spain. As you can see, on the top, over the cross of "Santiago de Espada", there is a shield with the Spanish colors. And you are completely right, Portuguese government did not like the Japanese, so it is rather unusual to see both flags together...
Again many thanks and all my best!