Netflix (NFLX Quick QuoteNFLX - Free Report) recently released the trailer of its upcoming Japanese movie, Drawing Closer. The newly released trailer delves deep into the story of Akito and Haruna. The protagonists suffer from terminal illness. With just a year left for Akito and six months for Haruna, the young couple is determined to cherish every moment.

The trailer introduces new characters, such as Ayaka Miura and Mikiko, who play significant roles in supporting Akito and Haruna. The family dynamics are beautifully portrayed by Nene Ohtsuka and Toru Nakamura as Akito's parents, and Yasuko Matsuyuki as Haruna's mother, who is also a nurse.

The theme song, a cover of Wakamono No Subete by Suis from Yorushika, resonates with the emotional journey of the characters and has already garnered attention on social media. Suis expresses her connection to the song, sharing her desire that viewers will feel a sense of hope by the end of the film.

Viewers are going to experience the heartfelt story of the young couple in Drawing Closer, which will be available for streaming exclusively on Netflix starting Jun 27.

Shares of this Zacks Rank #1 (Strong Buy) company have gained 26.6% year to date against the Zacks Consumer Discretionary sector’s 3.1% decline. The remarkable achievement can be attributed to the success of its Japanese content. You can see the complete list of today’s Zacks #1 Rank stocks here.

NFLX’s Upcoming Japanese Content to Aid APAC Revenues

Netflix has received increasing demand from Japan. This has prompted the company to invest more in Japan. Upcoming Japanese content includes title like Garouden: The Way of the Lone Wolf, Baki Hanma VS Kengan Ashura and My Oni Girl. These are expected to boost the company’s APAC revenues in the upcoming quarters.

The Zacks Consensus Estimate for NFLX's 2024 APAC revenues is pegged at $4.24 billion, indicating 12.8% year-over-year growth. The consensus mark for earnings is pegged at $18.3 per share, indicating 52.12% year-over-year growth.

According to a report from GEM, Japan's market for subscription video-on-demand (SVOD) services was valued at 505.4 billion yen in 2023, marking a 12.1% increase from the previous year. This upward trajectory has been ongoing since 2020, with steady expansion attributed to heightened interest in home entertainment amid the COVID-19 pandemic.

The notable players in Japan’s video-on-demand market are Amazon (AMZN Quick QuoteAMZN - Free Report) Prime Video, Netflix, U-Next, Disney (DIS Quick QuoteDIS - Free Report) and Warner Bros. Discovery (WBD Quick QuoteWBD - Free Report) .

Amazon recently enjoyed success of Japanese survival thriller series, Acma: Game, which premiered on Apr 7, 2024. Building on its success, the company is planning to release the second season of The Silent Service – The Battle of Tokyo Bay and a live-action drama adaptation of OSHI NO KO globally in winter 2024.

U-NEXT has become a strong competitor in the market, steadily increasing its market share. In 2022, it surpassed Amazon Prime Video to become the second-largest player. U-NEXT experienced significant growth after merging with Paravi in July 2023.

Disney is concentrating on creating Japanese content to expand its presence in the market. DIS’ first Japanese anime series, The Fable, was released earlier this year. It also has other exciting releases like Dragons of Wonderhatch and Tokyo Revengers: Tenjiku Arc in the pipeline.

Warner Bros. Discovery is growing its footprint in Japan by partnering with a local telecommunications company called J:COM. It has collaborated with DC for a Japanese anime series called Suicide Squad Isekai, which is scheduled to release in July 2024. The company has announced that it will be producing more than 10 anime series per year.

Netflix has remained the dominant player in Japan's SVOD market since 2019, despite experiencing slight declines in market share over the past two years.