Ultraman

Two basic characters will be given in the start of the game (Nexus modes Junis and Junis Blue) in Versus mode.

The other characters must be unlocked via Nexus mode. But some characters, (Noa, the One and Next) will be unlocked if you complete special tasks.
In Nexus mode, you will appear in Anphans mode, until you battle the monster to a certain state, then you will evolve, becoming either Junis or Junis Blue (depending on the Deunamist you pick).