Character creation limit?

I've read somewhere (multiple websites; one from Gamefaqs, others are various sites) that the character limit is "a little over 100". May I ask what is the exact number of characters you can create? Are those from the DLC and Overlords that join you in battle counts as a deduction to the overall creation limit, especially the latter since they are basically recoloured versions of their perspective classes?

According to a post here the maximum is 111 generic characters. When added to the 17 unique characters, you get a maximum total number of characters of 128.

It appears there's a limit of 111 created characters. There's 17 story characters for a total of 128.

I'm not certain if DLC characters will count towards this 128, though. I never came close to that number of characters.