Great looking piece. It looks to me to be one of those "off to war" banners but I can't be sure as I don't try reading kanji without my references close at hand.
Its a nice looking send off Banner. Its in a design style I have not seen before, with the red son in the center. Often the red orb will have will rays coming from it, like the rayed battle flag. It has the popular slogan Ki Buun Chou Kyuu, or praying for everlasting fortune in battle , in red ,on the right lower side, as well as the name of the person they are sending of in bold down the center.
Comment