The Phantom Horse
Following the tragic death of his father, a young boy's family trains his horse to compete in the local derby.
Starring Bontarō Miake, Ayako Wakao, Yoshirô Kitahara, Koreya Senda, Eijirō Yanagi, Yukihiko Iwadare, Akihiko Yusa, Kuniko Miyake, Naoshi Chiba, Fumiko Okamura
Watch "The Phantom Horse" on Criterion Channel released in 1955. It's a drama movie, and has a rating of 6.4 out of 10 from Imdb which is usually fine for this kind of movie.