I'm going to put this here for the record -
The Game Genie codes to achieve the same effect on the Japanese version are:
GGVIUPAO KAVIKPZP OIVISPIV
I was able to come up with these by looking at the original post (which is here btw) and examining the roms themselves to spot the differences. There was enough information to hack the (J) rom and run the results through FCEUX's GG code utility to come up with these. All in all, it was a fun little exercise.
Unfortunately, my initial testing shows that the Japanese version is actually slower than the US version. However, if anyone wants to delve deeper, here you go.
I was encouraged to create an account and post this here. If there is enough interest, I can write and submit a formal guide. Credit to Paulygon on GameFAQ's, as I got the codes to do this from the list posted on there.
Following these instruction will result in a CH5 in which all characters start at level 1 and starting equipment (and Alena will have the Thief's Key); basically a guaranteed equal start for the purposes of speedrunning and racing CH5 only.
You will need Game Genie capability. These instructions conform to the limitations of the original hardware; max 3 codes at a time and no ability to toggle them on/off during play.
Chapter 1:
To begin, use these two codes to trigger the chapter end condition: EEOAPTAP UEOAZVTY
Start a new game the usual way
When the king finishes his speech, exit the castle. The other soldiers will not move; this is OK
Save at the House of Healing and power off/on to return to the GG code entry screen; saving the game saves the flag states, so the first two codes are no longer needed
Enter the following codes: ESSXYISA TEVZASYT These codes set the XP bonus Ragnar receives at the end of CH1 to zero.
Enter the castle and talk to the king to end the chapter
Save at the prompt and power off/on
Chapter 2: NOTE: Don't worry about the Thief's Key; it will be in Alena's inventory when she joins in CH5
Enter to following codes to trigger the chapter end condition: EGNEZZAG KANELZSA
Escape the castle as you normally would
Walk far enough to get Cristo and Brey to join (possibly not required)
Reenter the castle
Walk upstairs; the castle is now empty
Walk around and exit the castle to end the chapter
Save at the prompt and power off/on
Chapter 3:
Enter the following codes to repair the bridges: LAVKNNIE VEEKXNIY
You can cancel random enemy encounters with the following code to make this part easier: ATXOSIAZ
Leave Lakanaba and walk to Endor
Save and power off/on
Enter the following codes to complete the tunnel: LAVKNNIE AANKKYAO XXEKXNIN
Walk through the tunnel to end the chapter
Save at the prompt and power off/on
Chapter 4:
Start with these codes; they will move the NPC in Haville blocking the gangplank out of the way, allowing you to board the ship without a boarding pass: LAVKNNIE PANKKYAP EEEKXNIN
After the opening sequence, walk through the theater house (possibly not required); do not leave town
Save at the House of Healing and power off/on
Use the following code to freeze the day/night cycle (VERY IMPORTANT!): SXNGUSVV
You can cancel random enemy encounters with the following code to make this part easier: ATXOSIAZ
Walk to Haville
Board the ship and set sail to end the chapter
Save at the prompt and power off
You may now remove the GG and start playing CH5 as normal
Oddities:
Because several flags are not triggered, there will exist several minor quirks in the world state. Most of them will never be encountered during a speedrun, but some are worth mentioning:
Orin will be in his spot in the Cave West of Kievs (where you get the magic key). You can talk to him but he won't join your party.
The Inn and Weapon shop at Frenor are not available; everyone is still waiting for the Fake Princess who is not there.
The Fox village is active. If you enter it, you can escape by talking to the mayor, just like in CH3. There is no way to break the spell, as you can't get the dog.