Release app in all countries?

The game will appear in all contries, however you can select in which countries the game may not be accessable.
Knowing nothing about this, I can only guess that localization is probably worth the most in countries where English is not commonly used, or if the app is aimed towards younger children.

I'm located in Germany and allow my users to switch between german and english. Can't say how important it is, because I only have one minigame without localization. Guess it's only worth the effort for somewhat successful games, I only localize for a german-speaking audience because it's easy for me and I also use this content for my websites in german and english. I'd expect a stronger effect with spanish/english. In iTunes you need to add an app name, description, keywords and screenshots for every language, which allows better targetting of native speakers.

I've had success in localizing to japanese.

When you setup your application in iTunes Connect, prior to releasing it, you have to choose a default language for your app. You MUST fill all the blanks for that default language (title, desc, keywords, screenshsots, everything). Then you can choose any other additional languages you wish to offer your app in. And later when you release your app, you can choose country by country where to release it, or choose to release your app worldwide.
If you have localized data for any given country, that localized data will be used on the corresponding App Store. If not, the data from your app's default language will be used. This why it's important to choose english or UK english as your app's default language.

Is localization profitable? If think that it depends on the game. If it's an adventure game with a long story and much text, or if the game is targeted to an audience who is not fluent in foreign languages (young children) then it might be worth it.

It's totally worth it. If you take a good look around you will see that the most successful apps are localized in at least three languages. I recommend you use a professional localization tool and crowd translators to do it professionally. My personal choice is Please login to see this link. and I recommend it for beginners, as it has a very simple interface to work with. Good luck!

What I have to do to make my game located? How to do the localization data?

If I set my game to Brazil from default, it will be automatically located to Brazil?

Because, I want to have a chance to make my game appear on "Popular near me" window on appstore

Best regards