Mie Prefecture-Trip Doable in One Day?

I am staying in Osaka. Planning a trip to the following places by train & bus. Is it doable within one day. Need an expert on Mie Prefecture:
1)Early Morning- Osaka to Toba, Kintetsu Limited Express. Go to Mikimoto Pearl Island. Spend one hour only.
2) Proceed via Kintestu Local train to Ujiyamada Station then bus to Naiku Shrine & Okage Yokocho. Half an hour for Naiku Shrine enough?
Half an hour walk thru Okage Yokocho just to get a feel. Leave after one hour.
3) Take bus back to Ujiyamad & catch Kintetsu Ltd to Nabari & switch lines to Akameguchi station. From here take bus to Akame 48 waterfalls. Spend about 3 hours here. The problem here is that I found out that the buses are irregular? Is that correct? Anyone has a current bus schedule for April 2008? Taking a taxi is NOT for me as its too expensive.

Is the above way too ambitious?

this URL is the time table of akame sta. and akame 48 falls in japnese.
Black is the week day. Blue is the saturday. Red is the sunday.
number with Kanji are hour.
so, for an hour, one bus.
and you don't care of star marc.
an adult 340yen. an child 170 yen.
http://www.akame48taki.jp/newpage2/newpage2.html

enjoy your trip!

This could be a possible schedule:

06:05 depart Namba by Kintetsu limited express
08:10 arrive at Toba Station
08:30 Mikimoto Pearl Island opens

09:27 depart Toba by local train
09:41 arrive Uji-Yamada Station
09:45 depart by bus to Inner Shrine
10:00 arrive at Inner Shrine

I recommend to spend 90-120 minutes at the shrine (wide grounds) and the shopping street, where stores open around 9:30.

12:00 take bus from Inner Shrine to Uji Yamada Station
12:15 arrive at Uji Yamada Station
12:48 depart Uji Yamada by Kintetsu train
13:40 arrive Nabari
13:42 depart by local train
13:45 arrive at Akameguchi Station

I am not familiar with the area and whether it can be fit into the rest of the afternoon.

If you hurry at the Inner Shrine, you could theoretically catch the 11:48 train. Buses between Uji-Yamada and the Inner Shrine run every 15 minutes.

It looks like it is theoretically possible to squeeze everything into a single day, but you will have to travel at a fast pace and will spend more time in trains than at the sightseeing spots. So, whether it is enjoyable, is a different question.

i think it is impossible to go akame 48 falls for a half day if you want to go all falls. akame 48 falls is in the mauntain ofcouse. it means that is same to hiking.
so i recommend you to go akame for another day. and you should enjoy Ise have more time.

but the april falls is very beautyful for SAKURA.

i hope your best choise of trip for you.

Thank you all for yr great advice & all the links provided. They were all very useful. Now I know how to allocate the time.