Fujio is beautiful, talented, well-heeled, and engaged to up-and-coming diplomat Munechika. She has promised him a gold watch, a family heirloom, as an emblem of their engagement. However, she becomes enamoured with Ono, a student employed to tutor her in English, who is attracted by her beauty and wealth. Ono himself is bound by an engagement to Sayoko, daughter of his mentor, Professor Inoue.

When a civil war threatens to break out, two geishas flee from their village with aristocrats. During the long journey, the socially inferior women prove to be morally superior to their betters.

A geisha in the Gion district of Kyoto feels obliged to help her lover when he asks to stay with her after going bankrupt and leaving his wife. However, her younger sister opposes this, thinking that they should both find wealthy patrons to support them.