Yes there is a limit to the number of weapons you may carry upon you for well practical reasons mostly. When creating a character the most you can have upon your being will be the same as when you are at S rank, no difference between character ranks and equipment carrying capacity. The only aspect that will affect what you can carry is that of your Taijutsu skill. All Taijutsu users may carry 25% more than others this being for each point spent into Taijutsu. Puppets count as 5 weapon points for the purpose of carrying if only because they themselves have weapons within them etc.
Below is how many point slots each item will take up based upon it's rank.
- E-Rank: 1
- D-Rank: 2
- C-Rank: 3
- B-Rank: 4
- A-rank: 6
- S-Rank: 8
Below is the total amount of items you may carry on your person at any given time. This goes by a total amount of points, meaning you may only have this number upon you at any given time when all your weapons totals are added up.
There are items that can hold other items within them, and so forth, typically scrolls. Scroll shall add an additional number that vary with the item created, however you are limited to only having up to 3 item scrolls upon you at any given time to avoid abuse of this system. Item scrolls do take up an inventory slot based off of their rank meaning they are limited in points just as other items are.
*Note: The Taijutsu multiplier is by the base sum not the cumulative.