The story follows a series of fighters that have each received a mysterious letter to compete in a legendary contest, and about a champion that has disappeared.

After beating the other seven characters and an identical version of themselves, there are two other opponents: Gouriki, a character wearing a cat mask and rope-like fairy wings, and Ohgami Reiji, the final boss that wears a large straw hat covering his eyes, and business suit.

Reiji while fighting can change into one of two other characters: Hikari, an all-white humanoid with a third eye in his forehead, and Yami, a grey-skinned man with purple beard and long sideburns.

: Fighters' NEXTream in all regions, but in early 1998 Konami decided to rename it Deadly Arts for the North American release.

[5] Matt Casamassina of IGN noted the "stale, sub-first-generation graphics, terrible control and detestable framerates.