Links: TVTropes, Wikipedia, IMDB (6.1).
This Japanese horror comedy is a visibly low-budget B-movie cut from the same cloth as a Troma film. The plot, acting, and effects aim for (and hit) So Bad It's Good territory: the plot is a high school Valentine's Day romantic drama that erupts into a love triangle showdown over a boy, fought between a mysterious transfer student who's secretly a vampire and the spoiled daughter of the vice principal who dies and comes back as a Frankenstein-style creation (resurrected by her father, secretly a Kabuki-clad Mad Scientist). The film ruthlessly parodies some common Japanese high school subcultures: the "13th Nationwide High School Student Wrist Cut Rally" is hilarious... although it must be said that the ganguro parody comes across as cringe-inducingly racist, even knowing it's trying to parody the racism of it rather than join in. Overall, though, I had a fun time. Score: 3 stars out of 4.
PS: Ganguro, literally "black face", is a Japanese fashion subculture composed of teenage girls who over-tan and try to associate themselves with American blacks and American rap/hip-hop music because they're "cool". It's well intentioned but it's frankly a little bit racist itself, even before you parody it. ("Japan" and "racial sensitivity" don't generally mix well together, which is perhaps not surprising given how racially uniform Japan is.)