The year is 22XX. Viruses and cyber crime have been eliminated from the net and technology has advanced to an unprecedented level. The world of tomorrow is one where people use mobile computers called "Trancers" and are able to change various navigation systems into electromagnetic waves (EM waves). These EM waves are known as the Wave Road. The Wave Road exists in the real world, however it is only visible to those from the mysterious planet FM and the game's hero who, through a twist of fate, transforms into EM waves himself.
This game is also known as Ryuusei no RockMan: Pegasus in Japan.