Text on the neck of the bottle reads 凱旋記念 "Commemorating a triumphant return"
Central text with the flags reads 海軍 "Imperial Navy" 満期 "completion of service"
The text on the sides is the Imperial Rescript to Soldiers and Sailors issued by Emperor Meiji in 1882 忠節 — loyalty/fidelity 禮儀 — courtesy/propriety 武勇 — valor/bravery 信義 — faithfulness/honor 質素 — simplicity/frugality. Every sailor in the Imperial Japanese Navy was required to memorize this.
An IJN sailor who was honorably discharged after a successful campaign would have been issued this cup, probably some time before WW2 as less soldiers were getting discharged in WW2. Based on the "triumphant return" terminology this cup likely dates from one of Japan's victories in the Second Sino-Japanese War.

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