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Volterra_90 said:
outlawauron said:

Atlus is doing the localization. Any content changes are done because of regulations by Nintendo. That's it.

The translation won't have the Treehouse treatment, that's the only difference.

"Regulations in the many different territories Nintendo distributes its products.”

I don't know in which part exactly do you read that these are regulations BY Nintendo, and not regulations by the different countries. But suit yourself. I think it's clear that they mean the different rating regulations in different countries. Not internal Nintendo regulations. 

No that not what that sentance means.  The bolded part of the sentence is all you need to figure out who regulations they are, in this case the territories (rating system.) The sentence whould be better worded. "Regualtions by the various rating systems in the regions which the game will be published." Since it is a given that a game that is exclusive to Nintendo will be distributed in a Territory that Nintendo distributes its products.