Billy Chapman, who was traumatized by his parents' Christmas Eve murder, then brutalized by sadistic orphanage nuns, grows up to dress as jolly St. Nick for a yuletide rampage to punish the naughty.

After his family is killed in Japan by ninjas, Cho and his son Kane come to America to start a new life. He opens a doll shop but is unwittingly importing heroin in the dolls. When he finds out that his friend has betrayed him, Cho must prepare for the greatest battle he has ever been involved in.