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You're looking at a Ribbed Censer, or incense burner, made in 1994 by Japanese artist Yagi Akira.
Yagi is a third generation ceramicist from Kyoto, and comes from a family known for its avant-garde approach to art. Yagi is particularly interested in exploring the structural challenges in ceramics, and often creates series or sets of works.
He often nests bowls, boxes, and vessels inside one another, creating works that require a high level of precision.
You can see some of the precision at work in the wavy decorative element at the top of this censer.