A boxwood netsuke of Hotei (God of Happiness)
By Ryugyoku, 19th century
Seated, smiling as he looks to the left, one hand resting on a sack at his side, the other holding an uchiwa (rigid fan), his loose robe falling from his body, revealing his distended stomach, the wood stained for effect and the eyes inlaid; signed Ryugyoku. 3.8cm (1½in) high.