The Giant Buddha or the Daibutsu, world's largest gilded bronze Buddha built during the Nara period (8th cent). Nara was then the first permanent capital of Japan. The buddha have been heavily repaired over time and very little remains of the original work.
The position of left hand of buddha (oh! cant be seen in this picture) expresses buddha's desire to put an end to all suffering. The right hand extends his welcome to those in the world who suffer.