I think it says something like "1935, three consecutive years of victories" (I won't make any claims about having strong translation skills). These are school kids, not soldiers. I don't see any indication of what they were victorious at.

In the 1930s, Japanese school uniforms for boys had a very militaristic look. They were based on Prussian military uniforms. It looks like the uniforms in the photo are from a non-military school. Military academies would have coats with seven buttons, while non-military schools would have only five buttons.

FYI if you put a link in the title of a text post clicking it won't take you to the link, it just takes you to this post. You have to add it in the body of your post like this.