法王 is read as ほうおう (houou) and means Buddha.
ほうおう
houou
ほうおうけん
the papacy
ろーまほうおう
Pope
ほうおうちょう
Curia
おうほう
royal decree
ほうしゅ
high priest
ほうじん
corporation
ほうがく
law
ほうむ
clerical duty (in a temple)
ほうき
laws and regulations
ほうし
layman dressed like a priest
ほうがい
exorbitant
ほうしょう
Minister of Justice