Yet another animated penguin tale is reportedly on its way, this time with an international twist. Daily Variety reports from the Cannes Film Festival that Japanese animation studio Madhouse Ent. has joined forces with French company Denis Friedman Prods. to produce a CG feature titled Yona Yona Penguin.

Directed by respected animation helmer Rintaro (Metropolis, Captain Herlock), the animated fantasy will actually revolve around three children who travel to an enchanted land. The film is reportedly budgeted at around $12 million and will be produced in Japanese-, French- and English-language versions. Artistic duties will be divided between crews in Japan and France. Madhouse sister company Dynamo Pictures will animate part of the movie and Mikros Image in France will provide post-production services.

Yona Yona Penguin will be distributed by Shochiku in Japan, by Hong Kong entity Golden Network in other parts of Asia and France’s Wild Bunch in other international territories. Wild Bunch handles international distribution for famed Japanese company Studio Ghibli and has the animated features Film Noir and Max & Co. playing at Annecy next month. North American rights for Yona Yona Penguin be serviced by Madhouse’s U.S. division and Shochiku.