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Netflix (NFLX) Partners with Softbank for Japan Launch

August 24, 2015 7:56 AM EDT

Netflix (NASDAQ: NFLX) will partner with Japan's Softbank for a Japanese launch of the video-streaming service on September 2, the companies announced at a joint press conference on Monday.

Netflix monthly plans will be offered by SoftBank under three-tiers: a basic $5.40 (¥650), $7.85 (¥950) for two streaming HD devices, and $12 (¥1,450) for up to four devices.

The two companies will also collaborate on producing original content.

Japan is seen as an attractive market for Netflix given the country's 36 million homes that have access to broadband.

Despite the news, share of Netflix are down 8% to $95.50 in morning trade amid the world-wide market rout.



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