I think, all of those are “real” one :)
Page 44 = future. I think, they are editors or working in publishing company. They are talking about Tachibana last manuscript (phantom manuscript), which no one knew the whereabouts and what’s written inside.
Page 47 = back to the past. Tachibana was talking about his plan to write story about both of them, which later be the phantom manuscript.
Page 52 = future (the same time as page 44). I think, he is Asakura. He was reading the “phantom manuscript” which dedicated to him. In this time, probably Tachibana has died. That’s why he said “I will be coming to see you”. However, they were together until death separated them, because in page 56-57, you can see old version of both of them living together.
I dont know though if this right or not ( ̄∇ ̄").
Hope u can understand what i mean.
Maybe because the last three pages were an alternate ending. If you look closely page 44 and 55 have the same drawing (the dialogue were the only difference.
The way 44-46 were panelled is the samd with 55-57. So when I think of it as an alternative ending, it makes much more sense.
But that's just how I interpreted it though, if only someone can read whats written on page 53.
Which ending is the "real" one?