does The Legend of Heroes: Trails of Cold Steel 2 import save data from the previous game?

in The Legend of Heroes: Trails in the Sky when you completed the game you would save it's data and be able to import it into the second game The Legend of Heroes: Trails in the Sky SC.

I have The Legend of Heroes: Trails of Cold Steel 1 and 2 on PS3 but i haven't played either one yet. i am wondering if like Trails in the Sky, Trails of Cold Steel has any sort of save game importing between the first 2 games?

Yes, Trails of Cold Steel 2 allows to import a save game from Trails of Cold Steel 1.

You get some Sepith, Quartz and a Zeram Powder. The amount is based on the main characters level.
And you may get an accessory based on the achieved student rank.

Also there are some minor dialog changes based on an choices close to the ending of the game.

There is some specific dialog when you first meet the character you choose to hang out with during the end of the festival.