Fortunately, many of the menus feature kanji with english subtitles, as we can see in the Title Menu below:
There are a couple instances where there is Japanese only in the OPTION sub-menu. The first is ALBUM MODE shown below
Next, we encounter the KEY CONFIG shown below. Make sure that you have your controllers hooked up before starting the game to prevent any problems. Also, if you try to assign a button to more than one option, you will get a warning at the bottom saying that you can't do this, and you won't be able to exit until you correct it.
Finally, there is a hidden menu (hold down D and press A when OPTION is selected in the Title Menu) called EX OPTION shown below. Here, you are able to set the speed of the game from NORMAL to JET to TURBO to ROCKET.