Someone has already stated that there is no reset function in suikoden V, i have tested this and it is true, NO SOFT RESET, thats in the Japanese version.
However to compensate they have revitalised the "one handed" play method seen in Suikoden II & III. Thats L1 is do action like X(O in Suikoden V for some reason??), and L2 is cancel or triangle. Select button lets you in and out of the menu.
So when you are battling or just on the phone to you friend you can play the game with just on hand, i am glad about this as this is one of my favourite features, and it was not fully included in Suikoden IV.