Chiho Masuda, the last heir of the Masuda ninja clan, endured rigorous training as a kunoichi before abandoning her duties as a missing-nin, seeking personal freedom and happiness beyond her clan's restrictive life. To finance her independence, she entered the V.G. tournament, vying for victory and its substantial cash prize and property award. Like all participants, she also worked as a waitress at a sponsoring family restaurant.

In certain continuities, her tournament participation included a mission directed by her grandfather: investigating the Jahana Group, the organization orchestrating the V.G. tournament. For this investigation, she partnered with Takikage, another ninja who had infiltrated the Jahana Group undercover.

Chiho initially faced Yuka Takeuchi as a tournament opponent, but their rivalry transformed into mutual respect and friendship. This bond led Chiho to later assist Yuka in confronting corrupt elements within the tournament management, specifically during efforts to dismantle the Jahana Group's control.

Her combat style leverages her ninja heritage, utilizing agility, evasion tactics, and traditional ninja weapons to emphasize speed and precision. In the OVA adaptation, she faced significant challenges, including being targeted and defeated by Satomi Yajima, who was brainwashed using the Jahana Group's cyber drive technology. Despite this setback, Chiho persisted in supporting the exposure and disruption of the group's manipulations.

Across all media depictions, Chiho's core character arc remains focused on her pursuit of independence from her clan's legacy. While her specific role varies—sometimes emphasizing her investigation mission and other times solely her quest for freedom—her fundamental motivation is consistent: to live life on her own terms, free from her ninja heritage.