Tomisaburo Wakayama is Lone Wolf and Akihiro Tomikawa is Cub, his three-year-old son. Together they wander around Japan, the youngster in a baby carriage with a sign noting that child and expertise are for hire. It turns out, via a long flashback, that he used to be the executioner for the Shogun. Then the evil Yagyu seized that office and he was supposed to kill himself. So he went rogue and is now wandering around Japan, dealing with prostitutes, madwomen, thieves and the occasional Yagyu ninja.
Anyway, in this one, he trundles Cub to a hot spring for a vacation. It's run by desperate criminals who try to intimidate him. They don't. Eventually, we can be assured, assassins will show up and there will be a colorful bloodbath.
For people who like lots of fake blood amidst some great cinematography, and Japanese acting stoically bizarre, it's just what the audience ordered.