Chinese token?

w 4.8 g, d 21.2 mm, brass

All I could find online was “Chinese entertainment token.”

Kenny, you out there?

Hi, this is a Japanese token, for entertainment purpose.

“娱乐用” means “for entertainment”

on the other side 

金品ト 交換出来  マセン

says something like , “exchangeable for money and merchandise”

Thanks for the info. Any guess as to the context/era? Arcade? Brothel? Military? 1970s?

It kind of reminds me of US officer mess tokens from the Vietnam war era.

That is a good insight. It does have a rather official issue look, rather than an arcade hall or amusement park private issue. I detect a grad research project topic.