Licensed to Cave.
This game is mostly known by the name "Atlus 2" (the creator company's name) instead of its original name.
The character Kurara is obviously a parody of the typical magic girl trend in Anime and Manga started with Mahou No Princess Minky Momo, Kurara has Momo's transformation from a little girl to a teenager; she is also a parody to the second series of Minky Momo as she is also from an underwater kingdom. Her voice actress is Kotono Mitsuishi, who happens to be the same one that voiced Sailor Moon, yet another popular magic girl. 'Kurara''s good transcription is 'Clara'. She also has her own arcade game : "Purikura Daisakusen
" (Note : Princess=PURInsesu, Clara=KURAra, PURInsesu+KURAra=Purikura) - Japanese love abbreviations.