Does it actually do anything?

Books? They raise intelligence, higher intelligence points are used to get promotions in jobs and I think to use some weapons but I'm not sure since I don't really battle. Also there are achievements for a pet reading a certain number of books.

Ahh I see. Then I'll read more books to my pet :) Thanks, Luck. ^0^

No problem :D

The weapons mentioned are scrolls, a very useful staple to any battle set. To equip a scroll you need Alchemy Points. One alchemy point is given every 16 intelligence points. To use an 8 Alchemy Point scroll a pet would need 128 intelligence points. There is even a scroll that takes 50 AP, a whopping 800 intelligence points.

Thanks, Tobiko. :)