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Unlockable: Characters
Below are a list of some of the characters that can be unlocked for use during the course of the game.

Audrey - Earn ten medals
Emile - Let Oscar die in battle after unlocking his true potential
Knute - Enter the Command Room with a million DCT
Musaad - Beat the game once through in its entirety

Unlockable: Lynn
To recruit Lynn into your party, have Karl (engineer) in your party while doing a mission or, preferably, a random skirmish. If he unlocks his potential during the battle, Lynn should be recruited for your use in future missions.

Unlockable: Duke and King
Duke: Beat in tournament mode after flawless C ranking or better.
King: Beat in tournament mode after flawless D ranking or worse.

Unlockable: Frying Pan Racket
You must get three strikes in a row in the Pin Crusher mini-game.

Unlockable: Dural
You must complete the arcade mode with every character one time

Unlockable: DOJO training stages
You must finish the Time Attack Mode.

Unlockable: Custom Characters in Movies
When you go into VFTV Movie Theatre, hold left on the d-pad when pressing X to select the Wolf-El Blaze or Eileen demo movies. The movies will now feature your customized versions of those characters.

Unlockable: Costume C
You must get the rank of the 1st Dan.