Watched it now (June 2017) for the third time and find it again intriguing, especially the calculated use of cuts, the permanent changes of narrative perspectives and the use of sounds. It's a highly constructed movie but in my opinion it works.
I agree with the negatives below even though I liked it overall: the melodramatic pastiche of shoegaze pop video and teen psychobabble killed any credibility that might have been. Still, nothing can take away from the intensity of the opening 30 minutes that traps the viewer in a slowly coiling python grip. Takako Matsu's character and performance is one of the most coolly diabolical that I've seen in a while.
now here is a work of art because of the crafting of this piece: what a masterful editing, every shot was important, what a great directing giving us suburb and powerful acting and the production that assembled this piece. unbelievable.