A beauty and a poem of Kawara no Sadaiji (河原左大臣) aka Minamoto Tōru (源融).

A beauty dressed in a garment rich in colour and design. To her left, two cards reveal the fourteenth poem from the "Hyakunin Isshu" (Anthology of One Hundred Poets) along with a miniature portrait of its author. In the upper right corner, an unfolded scroll displays commentary on the poem.
Here is an approximate translation of the poem:

"陸奥の しのぶもぢずり 誰ゆゑに 乱れそめにし 我ならなくに。"

"Michinoku no Shinobu mojizuri Tare yue ni Midare some ni Ware naranaku ni."

Like the hidden patterns on Shinobu-dyed cloth from distant Michinoku,
Why have my feelings become so tangled?
It was not of my own doing.

Censor and publisher seals are visible on the left, one above the other. On the right, the artist signs as Kunisada aratame nidai Ichiyōsai Toyokuni ga (国貞改二代一齊豊国画), a signature he often used after 1844.