Manchukuo National Military Force Air Corps, 1938-39. This trainer is Orange overall, with Black cowling, forward fuselage, undercarriage legs and wheel spats. MNMFAC roundels are applied in four wing positions, in (from top) Red, Blue, White, Black and Yellow. The fuselage script, indicating the donor of the aircraft, is in Black.
Source: Insignia Magazine and Blue Rider Publishing