柏はく鵬ほう時じ代だい

Meanings

1

noun

Hakuho era; era of Taiho and Kashiwado

sumo

Refers specifically to the period in the 1960s when yokozuna Taiho and Kashiwado dominated sumo. Used in historical or sumo contexts.

substitute, change, convert

大たい鵬ほう
Taiho is one of the two yokozuna whose dominance defines this era.
柏かしわ戸ど
Kashiwado is the other yokozuna of the era; the term combines the first kanji of both names.

Compound of 柏 (from 柏戸, Kashiwado) + 鵬 (from 大鵬, Taiho) + 時代 (era). The term was coined to describe the period when these two yokozuna were active.