The central story revolves around the death of Kinkaid Storm, the chairman of Storm International. Unbeknownst to the public, Kinkaid was also the leader of S.H.A.D.O.W., a global crime syndicate, under the title of Shadow King. With his death, some of his lieutenants and other individuals see a chance to gain power and fight each other to become the next leader of S.H.A.D.O.W.. The player must choose one of these combatants and triumph over the others.

After defeating the other fighters, the player's character goes to the Storm Building, the headquarters of Storm International and S.H.A.D.O.W., to become the next leader of the syndicate. However, they find the building in ruins and a cyborg of Kinkaid, who survived the attempt on his life, waiting for them. After defeating the reborn Shadow King, the ending for the player's chosen character plays out and the game ends.