Imax Corp., which makes large-screen movie systems, said Thursday it agreed to partner with Japan's Tokyu Recreation to install four Imax theaters in Japan, marking Imax's second international joint venture deal.
Imax announced the Japan deal a week after it said it will team with Australia's Hoyts Cinemas Ltd. to install four Imax digital-equipped theaters in Perth, Melbourne and Sydney.
Imax and Tokyu will share the cost and profits of the new theaters. Specific terms of the deal were not disclosed.
The first theater is scheduled to be installed in Kawasaki in November, followed by another in the city of Shobu early next year.
Shares of Imax rose 39 cents, or nearly 6 percent, to $7.27 in morning trading.
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