The middle column of kanji immediately below the image (望潮蟹 = wàng cháo xiè) translates roughly to “looking-at-tide crab” in Mandarin; the katakana to its left (ワンチャヤウヒヤイ) is not Japanese, but rather a sylabolic pronounciation of the Chinese. This name matches the spirit of other translated names from the region (e.g., beckoning for the return of the tide) and still appears to be used to refer to fiddler crabs in China today.
The column of text to left of the figure (本綱望潮蟹生海中似膨媒而潮至出穴望者可食) very roughly translates to “the looking-at-tide crab lives at the ocean and resembles the benkeigani. It comes out of its hole when the tide arrives and faces the ocean. It is edible.”
This certainly sounds like it could be a fiddler crab, and the references to a white-claw or foot, would likely make it Uca lactea.
Many thanks to Dr. Koji Tanno for providing the translations.