Heat oven to 250. Coat a 15 x 10 x 1-inch baking pan with nonstick cooking spray. In a large bowl, toss together wheat cereal, sesame sticks and peanuts.
In a medium-size glass bowl or measuring cup, combine butter, teriyaki, sesame oil, sugar and salt. Microwave on high for 45 seconds or until butter is melted. Pour over mixture in bowl, and toss to coat.
Transfer cereal mixture to prepared pan and bake at 250 for 1 hour, stirring every 15 minutes. Cool mix in pan on wire rack for 15 minutes. Stir in wasabi peas; divide and package to store or give away in zip lock bags or small containers.