怪談, Kwaidan (1965) is an amazingly beautiful Japanese horror anthology by Masaki Kobayashi.
Kwaidan is based on 4 ghost stories by Lafcadio Hearn, a greek writer who often emigrated but eventually settled in Japan in 1890. He married the daughter of a local samurai family, took a Japanese name – Koizumi Yakumo – and after having been Greek Orthodox, Roman Catholic, and spencerian, he became Buddhist.
In Japan he found his greatest inspiration to work and although he has been critiziced by exotizing the country, lots of his ghost and folklore stories have been used by Japanese artists such as Kobayashi, whose adaptation makes the stories feel as if they were century old folktales.
One of the 4 stories used in Kwaidan is 雪女 Yukionna: Women of the Snow. It was cut out of the US release in 1965 (the film is over three hours) but I believe it to be the most gorgeous nightmare out of the four and the witch became an archetype for many horror movie witches.
Kwaidan won the Jury prize at Cannes and was nominated for an oscar Best Foreign Language Film.