Japan, 250 years ago. Soetsu is a moneylender who is killed by the cruel samurai Shinzaemon. His body is dumped in the Kasenega-Fuchi river. According to legend, all who drown in the river will never surface again. 20 Years later, Shinkichi, the handsome son of Shinzaemon, coincidentally meets Toyoshiga, the daughter of Soetsu. They fall in love. It is a doomed love, as the spirit of Soetsu is far from dead
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.
A blind masseur visits a samurai to request the return of a loan. The samurai kills him in anger, then has his servant dump the body in the Kasane swamp. However, the ghost of the masseur returns to haunt the samurai, who kills his wife by mistake and then goes to the swamp and drowns himself. 20 years later, the masseur's daughter unknowingly falls in love with the samurai's son who has been brought up to be a servant. After she is horribly disfigured in an accident, he plots to run away with another woman, but the path of their escape lies by the Kasane swamp...
