馬革 is read as ばかく (bakaku) and means horsehide.
ばかく
bakaku
ばけん
betting ticket
ばしん
horse's length
うまいくさ
cavalry
ばしゃてつどう
horse tramway
ばりきかじゅう
power loading
ばーゆ
horse oil
うまじるし
battle standard raised next to the horse of a commander
うまなみ
hung like a horse
やすで
millipede
かいかく
reform
かわ
leather
ぎょうかく
administrative reform