Make sure you pick up the JP and not the EU version.
While the EU version sounds tempting with its English menus, it won't run on the Connectix Virtual GameStation emulator like some PAL games do.
And, because of the way the game interfaces with CD music doing a PAL hack won't work.
Don't expect to see its sequels in the US either -- and from what I have read, the EU release of Mojib Ribbon still features Kanji and Katakana (sp?) - so while the release is in an English speaking region, the game is untranslated.