Note: This guide has been updated to include new stone demons in Shin Megami Tensei V: Vengeance,
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While Shin Megami Tensei V / Shin Megami Tensei V: Vengeance is not quite an open-world game, it takes some cues from them, including having many different landmarks to find in the vast wasteland of Da'at. One of the things you'll want to keep an eye out for as you play through SMT V are petrified demons scattered throughout the world. These are often larger-to-life statues found in somewhat secretive spots.
These stone demons are worth finding as they give you a considerable bonus for each one you run into. For each stone demon you find in Da'at, each and every demon in your stock will receive a free level-up. This can be incredibly useful in keeping your demon stock leveled up.
Knowing this, it might be worth considering when to actually activate each stone demon in receiving the free level-ups. Perhaps you may want to keep the statues as they are until later in the game, when level-ups are harder to come by and the free level is more valuable. Or you simply might want to wait until you have some fresh new demons in your stock that need level-ups to earn their next skill. If you have a set of demons that have already earned all of their skills, maybe it's worth holding off on activating the statue, leaving it for later. It's up to you.
In any case, below is a list of all the petrified demons found in Shin Megami Tensei V, separated by the game's four major regions.
Shin Megami Tensei V - Minato Stone Demon Locations
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Shin Megami Tensei V - Shinagawa Stone Demon Locations
Shin Megami Tensei V - Chiyoda Stone Demon Locations
Note: Canon of Creation only
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Shin Megami Tensei V - Shinjuku Stone Demon Locations
Note: Canon of Vengeance only
Shin Megami Tensei V - Taito Stone Demon Locations