And it was worse before they were owned by Sega. Atlus is the company that was so afraid of reverse importation^1 that the initial US Blu-Rays for the Persona 4 anime were dub only (Amazon link, notice the language is only English compared to the complete box set) and that released the first of two PS3 games with region locking (Persona 4 Arena).
Something like this?
It is fully translated and dubbed in english. You can find it on amazon:
http://www.amazon.com/Persona-4-Collection-1-Blu-ray/dp/B008DL4MSO