I would think so, at least when I got the North American release, but I still had no luck on my end in the voices working properly
Even with other regional releases, the same issue applies so ye, I am surprised
The game in particular that I'm trying to fix the voices of is Mario & Sonic at the London 2012 Olympic Games.
While the region swapping itself works fine, the voices mainly from the Sonic crew is still in JP no matter what setting it's on.
I myself have a New 3DS LL, so it is a JP model, but...