This is the Japanese version of EarthBound Beginnings (also known as Mother). As the first version of the game, it has a number of useful glitches. This run abuses the way the game handles the "Bread crumbs" item to warp off the edge of reality and casually walk straight into the final boss's lair 00:07.94 seconds faster than the previous run.
We also have a more normal run of the localized version, which doesn't include this glitch.
You can watch the complete run played back on console