User blog comment:Jared Grace/I have found the cheats to unlock the characters in Ultraman Fighting Evolution 3/@comment-175.136.12.36-20140604150512/@comment-4870877-20150412135337

You must the battle mode with thee characters in order:

1 Ultraman

2 Ultraseven

3 Ultraman Jack

4 Ultraman Jack

5 Ultraman Ace