This painting depicts the passing of the historical Buddha Shakamuni (Skt. Śākyamuni) from this world into nirvāṇa. He lies down surrounded by his disciples and his mother, Queen Māyā, who has hastened to his side from the heavens. From the signature we know that it was produced in Ningbo (present day Zhejiang Province in China) by a painter named Lu Xinzhong (J. Riku Shinchū).
 
KITAZAWA NatsukiEnglish by Mary Lewine 
Buddhist Art Paradise: Jewels of the Nara National Museum. Nara National Museum, 2021.7, p.352, no.10. 

This is a scene of Shaka's (Śākyamuni or Buddha's) Nirvāṇa (last enlightenment). But unlike other nirvāṇa paintings, only ten disciples are surrounding Shaka's body, and two strange figures in red costume are dancing in the front. Shaka's mother Maya, who is descending from heaven, and a pair of shara (śala) trees are painted in a decorative manner in the background. There is no other nirvāṇa painting of this type in Japan. It is known from the inscription on the scroll that it was painted by the Buddhist artist Lu Xinzhong from Qingyuan state, which existed between 1195 and 1276 during the Southern Song and early Yuan dynasties (today's Ningbo in Zhejiang province). Many paintings by Lu Xinzhong and his school—many of which were of the motifs "Sixteen Rakan (Arhats)" and "Ten Kings of Hell"—seem to have been imported into Japan. Those paintings with their rich and gorgeous colors and gold pigment had influence on Japanese Buddhist paintings in the Kamakura period. 
Masterpieces of Nara National Museum. Nara National Museum, 1993, p.34, no.19.