Coaltar of the Deepers is a Japanese shoegazing band that's been around since 1991.
They're sort of to shoegaze what NUMBER GIRL was to alternative music.
What makes them an interesting band is the styles of music they incorporate into their sound. They can go from a relaxing Slowdive style song to face melting death metal. In fact, the first track off their debut album is a very unique cover of the Cure's 'Killing an Arab'.
The band is still around and they released their second best of compilation earlier this year.
EDIT: Just throwing in another video, this is one of their more typical songs.