[5] Tomo, called "Shiraito", is a "mizugei" (water arts presented by a performer) artist touring with a circus troupe based in Kanazawa.

After an encounter with coachman Kinya, she falls in love with him and decides to finance his law studies, which he can't afford himself.

Kinya takes up his studies in Tokyo, regularly receiving money with Shiraito's letters, who hopes that some day they will be reunited.

The Water Magician was the second film adaptation (after 1915) of Kyōka Izumi's story, and one in a series of dramatisations of his work by director Mizoguchi.

[6] The Water Magician is still occasionally being shown with live benshi narration by Midori Sawato,[8] Ichirō Kataoka,[9] Komura Tomoko,[6] and others.