Complex sentence: The actual powers of the nominal administration of Japan by a hierarchy of court officials reached its nadir during the years of the Tokugawa shogunate; but even in this long period, titles and court rank were highly prized by those outside the court.
Split into simpler sentences: The actual powers of the nominal administration of Japan by a hierarchy of court officials reached its nadir during the years of the Tokugawa shogunate. Yet, even in this impoverished period, titles and court rank were highly prized by those outside the court.