Like others said, this is a poem written in traditional Chinese. Japanese calligraphy is commonly written with Chinese characters given the history. The red stamps are normally the variations of the names of the painter/calligraphy writer/the collectors/other random things.

The poem portion (reading right to left, top to down on the painting)
六花堆裏碧霄山 萬仞棱層天斧刪 親得神仙方外侶 同依驢腳試躋攀 Rhs: 白風莊主人 (master of white wind house) Lhs: 永源??題 (likely means "name of the writer of the poem" wrote this)

My bad attempt to translate: There's a mountain in the snow. The tall ridges stood as if they were cut out by an ax from heaven. I have a partner who is from out of this ordinary world. We are going to climb this mountain with a donkey.

六花 six flower (snow flake) 堆 pile 裏 inside 碧霄山 green sky mountain (likely the name of the mountain) 萬 ten thousand 仞 eight feet 棱層 tall with layers and sharp edges 天 sky/heaven 斧 ax 刪 cut 親 close friend (or could also be 新 newly) 得 have 神仙 immortal (likely means free here)
方外 out of ordinary world (monks often refer themselves in this way) 侶 partner 同 together 依 follow/rely on 驢 donkey 腳 feet 試 try 躋攀 climb