Comparison between the US-DVD, which had to be censored slightly for the R-Rating, and an undefined Unrated version. Unfortunately, there is no DVD containing a "clean" Unrated version to be found worldwide.

At the harbor:

16:48 Min.
During the sword-execution a few frames of both shots of the dead man are missing.
1,76 Sec.

16:58 Min.
The bloodiest frames of the shooting have been removed.
0,48 Sek.

17:35 Min.
The bloodiest frames of th severed hand-closeup have been cut. However, a part of this shot is still present.
0,36 Sec.

18:40 Min.
Another shooting has been cut down a few frames.
0,36 Sec.

19:17 Min.
The shooting of the first frogman has been cut.
0,2 Sec.

19:21 Min.
The shooting of the second frogman is a few frames shorter, too. A whitescreen has been included here in the R-Rated.
0,32 Sec.

19:25 Min.
Again, the bloodiest frames of the shooting are missing. The R-Rated shows another whitescreen here.
0,24 Sec.

In the nursery:

26:53 Min.
A closeup of the nannies bloody stomach-wound is missing.
0,96 Sec.

In the casino:

35:55 Min.
The first frames of the knife in the throat have been removed.
0,2 Sec.

The restaurant massacre:

49:24 Min.
The closeup of the shooter and his bloody head shot are missing. Right after that we see more shooters and a long-shot of the dead man..
2,88 Sec.

Showdown:

68:15 Min.
The shooting in front of the elevator is a few frames shorter, too. The beginning of the shot (the actual hit) is still there.
0,2 Sec.

69:31 Min.
Franco and the Punisher shoot the Kendoka a little more.
1,16 Sec.

69:32 Min.
Another shot of the Japanese is missing.
0,68 Sec.

70:10 Min.
The Triple-head shot has been cut a bit, but the end of the shot is sill there.
0,36 Sec.

73:12 Min.
One shot is missing during the impaling of the Japanese fighter.
0,72 Sec.

73:14 Min.
The second shot is shorter.
1,88 Sec.

75:53 Min.
The Unrated has a slightly longer version of Dolph getting his arms slit open by the earrings.
0,32 Sec.

76:12 Min.
A short closeup of the womans eyes has during the neck-breaking has been removed. The next shot has been shortened slightly, too.
0,32 Sec.

76:17 Min.
The shot of the Punisher pulling the knife out of his leg has been cut down two frames.
0,08 Sec.

77:56 Min.
Mrs. Tanaka is seen earlier.
0,2 Sec.

77:56 Min.
A longer shot ofMrs. Tanaka with the knife in her head.
0,28 Sec.

77:57 Min.
Mrs. Tanaka with the knife in her head is seen a bit earlier.
0,52 Sek.