@Random_Passer-by
It does seem to be Elder Futhark, with some runes rotated; I rule out Younger Futhark on the basis of the presence of (o), which is not present in Younger.
2nd word: you're most probably correct; though the last letter, transcribed, would be (ae or ï, note the diaeresis) rather than (i). Mangaka's discretion, perhaps.
1st word: The first rune is either (d) or (m), ergo either (dabozu) or (mabozu), it's not really clear which one the mangaka was aiming for. Either way my knowledge of Japanese is just about nil.