Netflix to roll out in Japan next month

Netflix is due to launch in Japan on September 2, marking its first steps into the Asian market.

The video streaming giant confirmed the launch date to tech site VentureBeat, after revealing earlier this year that it planned to go live in Japan this autumn.

Last month Netflix said in its second quarter earnings announcement that it had passed the 65 million subscriber-mark and also plans to launch in China next year as part of its ongoing expansion efforts.

Though Netflix did not launch in any new markets in Q2, it said that its international segment is growing at “a rapid pace” with plans already in place to launch in Japan in Q3; in Spain, Italy and Portugal in Q4; and in further global markets after that.

Netflix has already expanded into Australia and New Zealand this year, going live in these countries in March.

News of the Japan launch date came yesterday as Netflix’s share-price climbed 7.6% to reach a day high of US$122.70 – exceeding its 52-week high of US$177.88.

Bloomberg said the surge came as Guggenheim Securities issued a buy recommendation and a price target of US$160, indicating confidence in Netflix stock. Netflix’s shareprice has  already reportedly climbed 148% this year.