Hold Up + X and turn on the Playstation, if the code has been entered correctly the 'Title' screen will change colors as confirmation. Start a new game and pick a character and enter the following passwords to unlock the corresponding effect.
Unlock ALL Summon Spells: Enter 'ERUGO no ou' ('ERUGO' in Katakana + 'no' in Hiragana + 'ou' in Kanji - no space between all the Kana and Kanji).
More Experience (5,000 Experience Points): Enter 'hirokazu' (ALL in Hiragana).
More Money (10,000 GP): Enter 'juru' ('ji' + small 'yu' + 'ru' ALL in Hiragana).
Summon Night Stone Units (30 units of every Summon Night Stone): Enter 'BANPURE seki' ('BANPURE' in Katakana + 'seki' in Kanji - no space between ALL the Kana and Kanji).
Skip Conversations: When you see the location before a conversation starts hold Select and press Square, Circle, X, Triangle then press X to skip through it.