On Christmas night in Tokyo, the aspiring pop idol Minako Aino is alone on a rooftop when a white, plush cat named Artemis falls from the moon and lands on her. He reveals that she is destined to become a guardian of justice, and with a transformation phone, turns her into Sailor V. After a clumsy first attempt at stopping a street robber, Minako accepts her new role as a crime-fighting heroine.

The story then shifts to a different kind of chaos in the Juuban district, where a string of jewelery store robberies has the local police overwhelmed. A comedic subplot unfolds inside a small police box, where four inept officers are played by the same actors who portray the villainous Shitennou in the main series. The aggressive Captain Kuroi, the short-tempered Officer Akai, the frail Officer Shiroi, and the reluctant female officer Hanako bumble through their duties, providing a running gag that plays with audience expectations of their characters.

Meanwhile, the ordinary schoolgirl Usagi Tsukino learns that her favorite singer, Minako Aino, is releasing a new album. Together with her friend Naru Osaka, she visits the chaotic police station to voice concerns about the robberies. After finding the officers useless, Usagi, Naru, and two other friends decide to take matters into their own hands. They create homemade sailor uniforms and style themselves as Sailor Rabbit, Sailor N, and other original heroes, hoping to scare away the thieves from a jewelry store owned by Narus mother. Their amateur plan goes awry when a real gang of eccentric criminals, led by a stage magician named Cutey Kenkou and his female assistants, arrives to steal a case of jewels. The fake Sailor Guardians are quickly tied up, and Usagi is kidnapped after swallowing the key to the jewel case.

Sailor V arrives at the villains hideout to rescue Usagi, defeating Cutey Kenkou and his gang just as the bumbling police officers finally show up to make the arrest. During the commotion, a mysterious figure in a tuxedo and mask steals the jewel case. Sailor V pursues him, and the two clash in mid-air. The fight triggers a shared flash of memory, leaving both Sailor V and Tuxedo Mask dazed and confused about a forgotten past life. Tuxedo Mask flees with the jewels, while Sailor V tells Artemis that she suddenly remembered her real name and the existence of a princess. Artemis reveals that he has also sensed the princesss location, which is linked to the girl Sailor V never directly saw during the rescue: Usagi. As Artemis calls out to the moon for his partner Luna to come to Earth, a fiery streak appears across the night sky. Usagi, back in her bedroom, sees the shooting star and makes a wish for something wonderful to happen.