Studio Ghibli's 'The Red Turtle' is the studio's newest creation.

Fans of Studio Ghibli were greatly disappointed when Hayao Miyazaki announced his hiatus from making animated films. His creations have been well-loved for years and by different generations.

While fans may perk up at the news that Miyazaki may have another film, they may be disappointed to find out that the next feature is a joint project.

Kotaku reported that Studio Ghibli's 'The Red Turtle' is a new project with European film distributor Wild Bunch where the award-winning Dutch-British animator Michael Dudok De Wit will be the director.

The news of Studio Ghibli's “The Red Turtle” going into a joint production with the animated film studio may seem to be the highlight. However, fans will be delighted to know that Isao Takahata, “Grave of the Fireflies” director will be serving as the film’s artistic producer.

According to Rocket News, this is the first time that Ghibli has produced animation for a foreign-spearheaded project, but the studio's in-house have already worked with overseas clients for other projects such as "The Hobbit" and "The Return Of The King." Also, while most of the stories in the animated films are original Japanese creations, the more recent releases such as "Howl's Moving Castle," "When Marnie Was There" and "Arietty" were based on the works of foreign writers.

There is no further details released by Studio Ghibli as to whether they will continue creating animated films as a solo project. 

Studio Ghibli is a Japanese animation studio based in Tokyo, Japan. It is well known for its animated feature films where eight of them were among the 15 highest grossing anime films made in Japan. "Spirited Away," also dubbed in English by Disney, is the highest earner with $274 milion from earnings worldwide. However, there are around 19 other films made by the Studio that have equally recieved love with the most recent, and last film, being "When Marnie Was There."