Under Night In Birth Exe: Late [st] is getting a new version with Under Night In Birth Exe:Late[cl-r]. Now this is basically buying a new version unless you the prior on PS4. If you do you can update through DLC. A path will come out February 20, 2020 which will update your game.
“By downloading the free update patch which releases on February 20, 2020, those who own the PS4 version of Under Night In-Birth Exe:Late[st] can update their battle balance to match Under Night In-Birth Exe:Late[cl-r]. In addition to the free update, there will also be various DLC required to purchase in order to have the same content as Under Night In-Birth Exe:Late[cl-r].
Since Under Night In-Birth Exe:Late[cl-r] won’t be coming out for PS3 and PS Vita, those who own those versions digitally can purchase a digital version of Under Night In-Birth Exe:Late[cl-r] on at a discounted price from 5,280 yen to 2,000 yen. However, this will only be available from its launch on February 20, 2020 to April 30, 2020.“
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