It came in a lot of games off Yahoo Japan. Just from the low price I paid for the lot, I was sure it couldn't be an original. But I wanted the other games too, so I took a chance on it.
This reminds me of an Ultimate 11 Jap AES which was included in a lot of low profile AES games in another bidding at Yahoo.
Only one generic picture of the lot, with no more pictures shown.
I didn't even tried to bid for it as is seemed SO strange an Ultimate 11 between the other all so common games (3-4 more games in the lot), and with no detailed pictures shown...
The bidding ended at 71.000 yens, if I don't remember wrong... a very risky gamble in my opinion, as you could be extremely luck and find an original Ultimate 11 without any major defect, or an original game with sunfade, with no manual, with heavy scratches... or most probably, a conversion without even a manual.... weird.
Anyway, it's VERY scary how well done some conversions are done.
EDIT: Even already knowing it is a conversion, if you can and want, might you post some pictures of some pages of the inside of the manual (two pages in every picture); I would like to check it against anogher BTG conversion I remember).