Napster and Tower Records Japan, one of the country's leading music retailers, have formed a joint venture to launch Napster Japan in the territory within the next 12 months.

Napster and Tower Records Japan, one of the country's leading music retailers, have formed a joint venture to launch Napster Japan in the territory within the next 12 months.

Under the agreement, Tower Records Japan owns about 70% of the joint venture and will provide the majority of the personnel, local music content and marketing behind the store. It's also funding the initiative with $7 million in cash.

Napster, meanwhile, is contributing $3 million in cash and lending it's branding, music library and technology to the effort.

Napster has also launched stores in the U.K., Canada and, soon, Germany. This is Napster's first joint venture to launch in a new country.