Reincarnation is the Prologue of Tokyo Mirage Sessions ♯FE.
Five years prior to the start of the game, an event known as the Mass Disappearance occurs, in which almost everyone present at an opera performance, including popular idol Ayaha Oribe, acclaimed actor Chikaomi Tsurugi, and his son Yashiro Tsurugi, mysteriously disappears. Only Ayaha's younger sister, Tsubasa Oribe, evaded this fate.
In the present day, Itsuki Aoi is waiting for his friend Touma Akagi to get off work so they can hang out at Daitama. There, he discovers Tsubasa, his childhood friend, is participating in the One in Millenium idol audition. However, the host Teru Gojuin begins asking Tsubasa personal questions related to her sister, before suddenly releasing several ghostly figures on the audience. He then kidnaps the participants, including Tsubasa, and takes them through a portal. Itsuki manages to avoid harm and travels through the portal, leading to another world.
Itsuki is chased by one of the figures, which leads to him discovering that Tsubasa is having her energy drained by another figure. Before he can meet the same fate, a light shines from Itsuki, which he uses to purify his pursuer before using another light coming from Tsubasa to do the same to her captor. With both entities back to their senses, they lend Itsuki and Tsubasa their power, allowing them to assume Carnage forms, granting them power to fight back.
The pair introduce themselves as Chrom and Caeda, and are revealed to be Mirages. However, they've both lost their memories. They explain that the energy the mirages were draining is Performa, which resides within humans as their creative energy. While trying to escape, the party runs into Teru, but are suddenly saved by Touma, who also has a Mirage partner named Cain. Together, they defeat Teru and the Mirage possessing him, Garrick. Afterwards, Touma reveals that he didn't tell them about his double life as he didn't want to risk them getting into trouble, though feels it doesn't matter now that they are Mirage Masters as well. As they are heading for the exit, they are suddenly attacked by a swarm of enemy Mirages, but are saved by Kiria Kurono, a hugely successful idol and Tsubasa's favorite singer. After leaving the Idolasphere, Itsuki and Tsubasa meet Maiko Shimazaki, Touma's superior and the one in charge of Mirage investigations. Tsubasa asks to join, as she originally participated in the audition to hopefully find out what happened to Ayaha, and Itsuki agrees to join as well in order to help Tsubasa. Maiko agrees, and has Touma take them to their "secret base".
- This chapter shares its name with the song performed by Kiria, which plays during the game's opening.