Not based-on but taken from.
You claim that this movie is based on Ichi the killer. That is not true. It is not based on, but it is just a bad remake of a scene from the actual movie.
This remake is pointless. It tells nothing abouth what is going on, but just shows us a guy that vagely resembles Kakihara cutting his tounge off because he will sacrifice his source of pleasure.
If you had acctually made a movie where Kakihara did something that he does not do in the movie, then you could have said that it was based on the movie.
But all in all this movie makes no sense.