The update affected tournament settings, adding the ability to customize match rules and the UI. The Tournament Settings option is now available, allowing players to adjust rules, hide the win counter, and skip intro cinematics. The ranked matchmaking system has been adjusted to reduce the number of failed matchmaking attempts.
Due to upcoming tournaments and the Season 2 update, character balance will remain unchanged in upcoming updates. Details regarding Season 2, including balance adjustments and new characters, are expected to be revealed during a special Tekken Talk Live stream in late February.
More details on the changes in patch 1.12.01 can be found via the link.
***
Cover art author: Bandai Namco. Cover art source: Twisted Voxel