This is a typical samurai film. The masked daughter of the Shogun wants to kill a samurai who has seen her scarred face. I guess she's a little self-conscious about her appearance. Anyways, she sends waves of ninja warriors to kill the samurai and plots diabolical schemes / ambushes without much success.
This film is apparently part of a series featuring the same samurai character. The masked princess also featured in the 4th film of the series, so this is sort of a revenge film.
The film is okay, although production values are a little low, and the fight scenes are merely average. Still, if you like serial-type films or samurai films, this is good for a couple of hours of entertainment.