Given that it shares three role names, the play Keisei hana no shiranami (A courtesan's flower and white waves: 契情花白浪) appears to be a variant of Keisei kogane no shachihoko (A courtesan and a gold killer whale: けいせい黄金鯱). The latter drama, written by Namiki Gohei I (1747-1808) in 1782, tells the story of a conspiracy against the Saitô clan, based on an uprising that actually happened. The events involve a theft by the farmer Kinsuke, flying a gigantic kite, and a decorative whale (shachihoko:鯱) with gold scales on the roof of Nagoya Castle.
The term shiranami (白浪) or "white crested wave" in the play title was also a nickname for a thief, in this case referring to Kinsuke. Shiranami was apparently a contraction of the literal translation of a place name (白波谷) in China where a notorious robber had lived.
This hexaptych is designed as if it were a hand scroll. The far right edge bears the title of the play and Yoshitaki's signature. The composition features a colorful tableau in which the actors strike their mie (climactic pose: 見得) with sakura (flowering cherry: 桜) behind them and botan (peony: 牡丹) lining the edge of the hill.
References: IKBYS-V, no. 71