The message, at least from my point of view, is that Thomas Dolby is saying that he has a crush on his school teacher, and he is so distracted, or even entranced by her beauty, as she is an Asian beauty. He gives the last name of his teacher, which gives me reason to believe she is Japanese. In fact, he is so entranced by her beauty, in fact that it distracts him from doing his schoolwork, and he (Thomas Dolby) mentions all of the subjects his teacher is failing him in, as I don't recall all of the subjects his lovely looking teacher failed Dolby in.