What do I lose when I start a New Game Plus?

Question

It seems I lose some fairly important stuff when resetting to a New Game Plu. Some stuff acts like I never stopped playing, some stuff acts like I just started the game.

What all do I lose when restarting? What's important for me to know when restarting a New Game Plus?

Answer 1

So far I have seen that you lose:

• Equipment set up: All characters reset to default gear, but the items they were last equipped with don't disappear (with the following exception)
• DLC character equipment: All items purchased with in-game money for the DLC characters (Cave and Falcom) disapears (best I can tell it's no money back either). Items obtained for them via DLC however, show up in your inventory after restarting. This includes the ridiculously expensive outfits and ultimate weapons for the characters, so I recommend selling them before the final boss.
• Completed Product Proposals: You keep all [PP] key items, meaning you can still synthesize any product proposal you've found before in another playthrough. However the shop forgets that you've completed the synth process after NG+, so the items that were unlocked in the main shop are no longer there.
• Attack Commands: everyone's X, Square and Triangle commands for melee attacks are reset to the defaults in a NG+. This means several late game characters come without set commands at all so be sure to reset them.
• Quest progress: All quests are dropped when going to NG+, so your progress toward "kill stuff" quests is lost. Your misc items aren't lost though, so fetch quest progress is more or less intact.
• "Blue Cube" collections
• Map exploration (the map the Start button brings up has to be re-discovered each playthrough per dungeon
• Events: All of the "chirper" events and such get reset, allowing you to gain more Lily Rank with each character. Dual skills have to be re-gained by viewing the event that unlocks them again (I think, let me double check this)
• All collected characters, including the DLC ones.
• All shares for all companies (Arfoire starts with a massive lead again)

So because of these and other factors, take the following tips:

• Immediately reequip all of your characters as you get them back and set up their melee commands.
• Sell your DLC character's weapons/outfits before the final boss
• You'll need to revisit all of the Chirper events and other events in the game to get characters and combo skills back  - You can always get any ending after starting a New Game Plus since shares reset. But you'll also have to work to get them again, and work to get the Godesses back in your party.
• Everything else not mentioned here (levels, level based skills, collected items, Lily rank) should remain exactly the same in a New Game Plus