Unlock Reina
At the title screen, press [Up], [Up], [Down], [Down], [Left], [Right], [Left], [Right], [B], [A].
Unlock bonus characters
Complete story mode with Go to unlock Sieg Hart.
Complete story mode with Musica to unlock Read Admiral.
Complete story mode with Haru to unlock King.
Complete story mode with Elie to unlock Pasha.
Complete story mode with Shuda to unlock Gale.
Unlock Beast King
Beat Story Mode on Hard using Haru without continuing. After round 7 King will change to a Beast, beat him to unlock The Beast King.