This is a pocket watch wrist band with compass 
 of the former Japanese Army officer. 
It is from the time of the war.

As it was intended for military officers, 
it was not an official product and apparently 
had various specifications, but the watch and magnet 
cover were reinforced with metal rings, the belt 
metal fittings were also knurled, and the adjustment 
holes were made with eyelets. It is a sturdy product.
There are repair marks on the side of the watch cover
 that appear to have been hardened with glue, 
but the leather has a good texture and is in 
good condition.
The compass and pocket watch are also original 
sets and are working items made by FAMORA in Switzerland.
It looks like the tip of the long hand is slightly missing.
The opening/closing case back has one hinge 
that is loose and unstable, but it can be opened and closed.
The number 1165 is stamped on the inside of the case back.

This is a set that includes a pocket watch, belt, and compass.

How about a military collector?