This is called the Wa Sonic Can Badge Set. There are 5 larger pins, each with a different art for Sonic (Both classic & modern) and a scene of something that Japan is famous for. A Can Badge is a metal pin that's usually the size of a soda can top. (Is that why they are called can badges? Or is it because they are aluminum like a can?)
The scenes include modern Sonic with a famous wave and Mt. Fuji (probably) him with cherry tree blossoms laying down, and when he leaps over a traditionally decorator type roof of a building. They use classic Sonic getting ready to run with a river/bridge scene in a wooden low water-barrel (it is old-fashion) & looking-out stock art where he is near those red arches / gates. This DOES give a new stock art, which is the laying down modern one, that hasn't been used before. Hopefully it can add variety by appearing on more merchandise.
The ad for them here has a red square that for certain has words in it but they are kanji type. The subtitle under the logo is words too but you can't read it. These will have a 2021 release.