A wealthy executive named Kingo Gondo (Toshiro Mifune) is in a struggle to gain control of a company called National Shoes. One faction wants the company to make cheap, low quality shoes for the impulse market as opposed to the sturdy and high quality shoes currently being produced. Gondo believes that the long-term future of the company will be best served by well made shoes with modern styling, though this plan is unpopular because it means lower profits in the short term. He has secretly set up a leveraged buyout to gain control of the company, mortgaging all he has.