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To me it looks like that box is japanese-oriented. As to why they would use one of the roman letters is beyond me. However, it appears to be possible that it's actually a part of the word below, as there wouldn't be enough room for both chunks of text on the same line, and when you add them...
I had been curious of this myself, and after seeing that "ON AIR" sign I simply had to investigate myself. I do believe I can confirm that the language has english-based origins as well as japanese ones, making it interesting to translate. As I only speak english, I will only be covering what...