"Shibai Taroka" is a supernatural mystery anime that revolves around a cursed theater troupe and the eerie events surrounding their performances. The story centers on a group of actors who are bound by a mysterious curse tied to their theater, Shibai Taroka. Each member of the troupe is compelled to perform specific roles in plays that seem to mirror real-life tragedies, often leading to fatal consequences for those involved. The curse dictates that if the actors fail to perform their roles perfectly, they risk losing their lives or causing harm to others.

The protagonist, a young actor named Haruto, joins the troupe unaware of its dark history. As he becomes more involved in the productions, he begins to uncover the truth about the curse and its origins. The narrative delves into the backstories of the troupe members, revealing their personal connections to the curse and the tragedies that haunt them. Each play they perform is intricately linked to a past event, and the lines between reality and fiction blur as the actors are forced to confront their own fears and regrets.

The series explores themes of guilt, redemption, and the consequences of one's actions. The curse is tied to a historical incident involving the theater's founder, whose obsession with perfection led to a series of tragic events. As Haruto and the other actors delve deeper into the mystery, they must navigate a web of secrets, supernatural occurrences, and moral dilemmas. The tension builds as the troupe prepares for their final performance, which holds the key to breaking the curse—or sealing their fates forever.

The main characters include Haruto, the determined newcomer; Aya, a seasoned actress with a tragic past; Kaito, the troupe's director who harbors his own secrets; and Rina, a mysterious figure who seems to know more about the curse than she lets on. Each character's journey is intertwined with the overarching mystery, and their development is closely tied to the unfolding plot. The series maintains a suspenseful atmosphere, blending elements of horror, drama, and psychological intrigue as the characters grapple with the curse and their own inner demons.