Manga artists design their works to evoke emotions on a page-by-page basis, making it essential to analyze emotional changes at this level. However, traditional evaluation methods, such as questionnaire surveys, rely on retrospective self-reports, introducing cognitive bias and disrupting the reading experience. Physiological measurements provide a more objective alternative, but conventional methods use fixed time intervals, which do not align with the variable pacing of manga reading. Because reading durations differ across pages, these methods fail to capture emotional responses accurately, necessitating an adaptive approach. HRV analysis requires a minimum time window to ensure reliable measurements. However, since page durations vary, applying fixed time intervals can lead to misalignment between physiological responses and page transitions. To address this, we propose HRV Calculation Method for Page (HCMP), which dynamically adjusts the HRV analysis window while maintaining the minimum duration required for valid HRV analysis. In contrast, EEG signals are used to extract representative values per page rather than applying a dynamic window. Using EEG and HRV, we examined readers’ page-by-page emotional responses. β values increased during rapid developments and climactic moments, indicating heightened concentration, while rMSSD increased on pages associated with narrative resolution, suggesting relaxation. These findings demonstrate that specific manga pages elicit distinct physiological responses and validate the effectiveness of HCMP for page-by-page HRV analysis.