Japan has an emperor, so is it a monarchy or a democracy?
Ah, I'm finally back in this monarchy!
The British Monarchy is long overdue for making another rap music video.
When you're buddy-buddy with the master of a country, you are rewarded splendidly. Why? Because this is a monarchy where being buddies with the master is a very advantageous thing!
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.