It looks like Nights of Azure 2 will feature the return of the protagonist from the first game in the series. The latest issue of Dengeki PlayStation (courtesy of Hachima) has revealed that Arnice and the masked demon Christophorus will be appearing in the second game in the series. The description of Arnice in the sequel portrays her as a character that has fallen to the darkness and will have an ominously transformed arm and heterochromic eyes, one blue and one red.
No images of this form have been revealed so far but currently Nights of Azure 2: Bride of the New Moon is set to be released by Koei Tecmo in Japan on December 22nd for the PlayStation 4 and PlayStation Vita and the company has already confirmed plans to localize the game for Western release.