This is a cheering flag with the Aoyama Gakuin University logo. It was made around the time Aoyama Gakuin University first participated in the Hakone Ekiden and was distributed along the roadside as a cheering flag. It is not for sale and is no longer produced, making it a valuable item! The flag has some stains, so please understand this. I am also listing it on other sites, so I may delete it without notice. Ekiden Flag Cheering flag Aogaku (abbreviation for Aoyama Gakuin) Aoyama Gakuin