If it didn't sell in Japan why bother with it here? The story was hard to nail down, so I'm still not quite sure what the grudge was supposed to be. The story bounces around so much that the viewer is never really aware of who's who and what's going on. Confusing story telling to say the least. Bad acting, bad writing, bad directing.
The only thing remotely scary about this movie is the sound the thing makes, now that was creepy. Watch it if you want, but don't say I didn't warn you. Some may love it. I'm a spooky horror movie fan from way back, if I didn't like it you can bet it's not a great movie. But as they say, to each his own.
My suggestion... Run Away!