Netflix to expand into Japan on Sept. 2 as Internet video service enters Asia for 1st time

Netflix will expand into Japan next month to give the Internet video service its first presence in Asia.

Japanese subscribers will be able to start watching Netflix on Internet-connected devices beginning Sept. 2.

Netflix already sells its services in dozens of other countries outside the U.S. as part of its ambition to be available throughout the world by the end of next year.

The costs of the international expansion have been holding down Netflix's profits, but investors haven't minded because the company has been quickly winning over new customers. Netflix now has about 65 million subscribers, more than twice as many as it had three years ago.

Netflix's stock surged to a new high of $122.79 during Tuesday's trading and has more than doubled so far this year.