Although this looks like the PC Engine (TurboGrafx) version of Momotarō Densetsu for NES, it is still a different game, with different map layout, events, etc.
The story follows the classical Momotarō plot: an old couple found a boy inside a giant peach, and named him "Momotarō" (peach boy). Later, the boy decided to rid the land of the evil demon tribe. Help Momotarō reach the Demon Island and defeat the demons!
Gameplay-wise and graphically, this is a typical Momotarō RPG: navigating the little hero through the top-down world map, the player visits towns, descends into dungeons, equips Momotarō with weapons and armor, buys items, and fights random enemies and monsters in turn-based combat viewed from first person perspective.