Old SAKURA BEER Paper Napkin Placemat Wrapper ? Japan ? Need Translation Please

I am not sure exactly what this is, my guess is a beer hall napkin!

It is pretty large at 11.5 x 11.5 inches.

This was found among a collection of old Japanese restaurant menus from around the 1930's.

This will be stored and mailed in it's triangular folded position as it was found, as seen in the first image.

sh-11