Cho Aniki Zero - Issues with unlockables

[DrTails]

Title: Cho Aniki Zero
Genre: Shmup/Bullet Hell
Region: US/JP
Format: ISO
OS: Windows
Compatibility: Playable

Cho Aniki Zero is supposed to have several unlockables, such as an unlockable character, hard mode and a sound test.
Unlocking the character (Shoten) is doable, but when it comes to unlocking hard mode and the sound test, it isn't working.

The only hint given on gamefaqs and similar sites, is to beat Normal Mode 2 times. I have beaten Normal Mode 30-40+ times now without any success, on both the US and JP versions.

Does anyone know if the requirement is different than just beating Normal Mode twice, or could this be an emulation bug?