If you don't mind always picking the top option, it's perfectly playalbe with no Japanese knowledge, so far. My only complaint is that I can't find out how to melee attack.
Standing next to someone, then having to go to the touch screen menu while they're smacking you is retarded.
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edit: Nevermind.
You get little buddy monsters that you can control who can only melee attack.
I'm still playing it, so I assume that means it's a good game. Reminds me a bit of FFTactics, but in real-time. Maybe it's just the blonde kid. That you in there, Ramza?