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The word 弥勒佛 is formed by combining the two-character phonetic transliteration 弥勒, which approximates the sounds of the Sanskrit name "Maitreya", with the semantic character 佛, meaning "Buddha", to specifically identify the Buddhist figure Maitreya Buddha.

Word Definition - 弥勒佛

mí lè fó Maitreya; the Bodhisattva that will be the next to come after Shakyamuni Buddha