TOHO is producing a new work of its iconic film monster Godzilla for release throughout Japan in 2016. It will be the first Godzilla film by TOHO since 2004's Godzilla Final Wars (pictured right). According to the Cinema Today website, the "legendary" Japanese franchise is undergoing a revival, in response to the heightened fan support after Gareth Edwards and Legendary Pictures' Hollywood Godzilla film became a worldwide hit.
Edwards' film has opened in 63 countries and territories, and has earned over 57 billion yen (about US$470 million) worldwide, including 3.2 billion yen (US$26 million) in Japan alone.
Production of the new film will run from summer to fall of next year, and TOHO is assembling the staff. It will have no direct ties with Edwards' film, but will instead be an entirely new Godzilla film. Edwards and Legendary Pictures are separately planning a sequel to their own film.
TOHO proclaimed, "The time has come to make a film that will not bow down to the Hollywood film," thanks to a combination of rapidly improving filmmaking techniques (as exemplified by the ongoing Parasyte films) and know-how developed over the years in Japan.
TOHO is also inaugurating the Godzilla Conference or "Godzi-con," a organization to discuss and determine the strategy of Godzilla projects — including but not limited to the new film — in response to the growing Godzilla fandom bolstered by Edwards' film. It is now mainly composed of TOHO staff members, but TOHO is considering adding other creators and businesses to explore new project possibilities.
Note: This is not the first time this has been said but the previous time seem to be a rumor this time it seems likely it will happen.
Update: it has been confirmed on the Japanese Godzilla site.