"Jigiri Bagiri" is the only way I've come across of reading that phrase, but if it was pronounced in the Chinese style it'd be "Jisetsu Josetsu", not "toki".
Thanks, Josh & Nat, for the corrections.
Toki setsu jo setsu was what I got from the J-E dictionary. I believe the phrase "Living every moment to the fullest" applies to being on the mat too.
FYI, the scroll was a gift from Inoue Kyoichi hanshi. After drinks, I lost the translation.