Oharu is the daughter of Kyōsai Shimura, a rōnin who now makes his living making umbrellas. She is in love with another rōnin, Reisaburō Asai, who lives next door, but he is being pursued by two of the town beauties, Otomi and Fujio. To make things even more difficult for Oharu, her father is obsessed with antiques, buying them even though he has little money and even when most of them eventually turn out to be fakes. A mistake, however, puts him deeply in debt to the local lord, Tanbanokami Minezawa, and he is confronted with having to sell Oharu in order to pay it off.