Upon hearing the song "Norwegian Wood," Toru (Matsuyama) remembers back to his life in the 1960s, when his friend Kizuki killed himself and he grew close to Naoko, Kizuki's girlfriend. As the two try, in very different ways, to contend with their grief, Toru forms a bond with another woman, Midori.

The plot concerns a struggle for power amongst Tokyo's Yakuza clans, today just as likely to be playing the stock market as shaking down pachinko parlors, over which the Sanmo-kai clan holds sway in the face of constant betrayal and ever-changing allegiances. Sanmo-kai chairman Ototomo (played by Kitano himself) learns that his henchman Ikemoto has struck an alliance with the drug-dealing Murase family, and is not best pleased, to say the least. The ensuing retaliation triggers an orgy of killings, territorial invasions and score settling while law enforcement officers, too corrupt to intervene