This cartridge is a pirate of the officially licensed version. The game on the board is the same as what you'd find on the licensed version, aside from a hack of the start screen that removed Technos Japan from the copyright.
The black plastic casing is lightweight and generic, allowing any buyer to immediately recognize that it's a pirate. The label is very telling, too. Though many pirates were given English labels, this one is written in Japanese. The label art, while nice, does not include any of the informational elements, such as the maker and publisher of the game, you'd expect on a standard label.
This game only cost about $3 bucks. But the Nekketsu series games, even the pirates, are potentially worth more. One 6 in 1 Nekketsu series game went for $60 on eBay!