Fatal Frame: Maiden of Black Water has been updated to version 1.01 today by Koei Tecmo. You can find out the complete patch notes below.
This update appears to resolve some translation issues with the text in the game. It also squishes plenty of bugs but leaves the ghosts for you to hunt itself. So take your trusty spirit camera and get ready to capture the spirits and get rid of them in order to save your life in this new Fatal Frame.