This is a Yuasa dresser for grinding wheels. Has what looks like a diamond in it. This dresser is awesome for producing rounded edges on grinding wheels, or to make angled (beveled) edges on said wheels. The cutting stone can move along a circle (radius), or along a straight line. It is SUPER CONVENIENT in operation and is easy to figure out. Please see the video below on how it works.
Also see manuals below (PDF form).