On the night of the summer Obon festival, Hagiwara Shinzaburo meets a beautiful courtesan named Otsuyu. Not knowing she's a ghost, he becomes infatuated by her.

Tadashi Iki returns to Japan from a Soviet gulag 11 years after being captured during the invasion of Manchuria. He is offered a position in the expansive Kinki Corporation, but rival corporations are competing for a government contract to produce fighter planes.

The story contrasts the life of two doctors, former classmates and now both assistant professors at Naniwa University Hospital in Osaka. The brilliant and ambitious surgeon Goro Zaizen stops at nothing to rise to a position of eminence and authority, while the friendly Shuji Satomi busies himself with his patients and research.

When a local gambling house kidnaps some peasants because they failed to pay their debts, a rival gambling house pays their debts and sets them free.

Warlord Oda Nobunaga seeks to unite a fractured Japan. A young man trained in the arts of ninjitsu is manipulated by a ninja master into attempting to assassinate the warlord before he completes his task.

[Period covered: 1582-1594]. As the film opens, the warlod Nobunaga Oda rides to Iga Ayanokuni shrine. He is asked if he thinks he has destroyed all the ninja who opposed him and answers that he suspects that there may be more. A servant brings water and tests it first. The paige dies and we hear gunshots as two ninja flee the scene. His suspicions confirmed, Nobunaga oversees the execution of captured ninja and decides that, in the future, he needs a much crueler method of execution. The daimyo Hideyoshi comes to visit.