First thing you will have to do if you would like to play Phantasy Star Online 2 on Playstation 4 is to create a Japanese PSN Account so that you can download the game from the Japanese PSN Store. This is a quick video that covers that.
1. Log out of your current PSN account.
2. Create a new user.
3. Select Japan when choosing a region.
4. Fill out your birthdate one the bottom of the following page
5. For the area code input 8760854. Select the top option in the second drop down menu. In the third section select a Japanese character and then choose one of the auto-fill results.
6. On the next screen fill out your email and password.
7. Next, create your PSN user name and then input your name (first and last).
8. On the next screen select the right option for the user agreement.
9. Check your email and click on the link in an email you received from Sony to verify your email address.
10. Activate your account! You're done.