The inner workings of the human psyche are featured in this study of relationships between different leading characters. The action weaves around playwright Matsuzaki (Yusaku Matsuda) -- who is sleeping with Shinako (Michio Okusu), a married woman -- and his other lover, Ine (Eriko Kasuda), a fairly corporeal spirit.
The film is set in 1926, when cinema was silent -- and that era is evoked in Kagero-za.