This is a Japanese form of Tibetan Thangka art of God of Wisdom - Manjushri with the sword to cut down the ignorance and the other hand holding lotus.
Manjushri is the Bodhisattva of transcendent wisdom. With Avalokitesvara and Vajrapani he protects the Tathagata family, which includes Buddha Shakyamuni and Buddha Vairochana. There are different representations of Manjushri and several manifestations as well. In this thangka painting, he is depicted in the most common form as a beautiful young prince with orange or yellow skin. Manjushri holds in his right hand a flaming sword which is the figurative weapon that destroys ignorance and transforms it into transcendent wisdom (fire is a symbol of transformation). His left hand is positioned in front of his heart holding the stem of a lotus which bears the Prajnaparamita sutra representing the realization and perfection of wisdom and intelligence.