People around the world are saddened with news of Studio Ghibli closing after co-founder and director Hayao Miyazaki announced his retirement.

The studio has just released their new movie "When Marnie Was There" in Japan. Fans speculate that this might be the renowned studio's last film ever. The new animation has yet to have an international release date.

Here is a short description of "When Marnie Was There" as published on The Verge:

"Like Arrietty, When Marnie Was There is an adaptation of a British children's novel, this time by Joan G. Robinson; the plot sees an unwell girl called Anna strike up a friendship with the ethereal Marnie while staying at a seaside town to recuperate."

However, new reports suggest that Studio Ghibli closing rumors might be exaggerated. Studio Ghibli director and co-founder Toshio Suzuki has addressed the issue and has explained that the studio will not be closing, but will be "restructuring" instead.

According to Metro, "Suzuki apppeared on TV show Jonetsu Tairiku to talk about the future of Studio Ghibli in the wake of director Hayao Miyazaki's retirement. Previous reports said that Ghibli would be closing their feature film department, focusing on their existing trademarked material going forward."

In another related report by Comingsoon.net, Suzuki shared that the studio is "rebuilding" for the sake of the next generation.

He further added that after Miyazaki's retirement, the studio will "take a brief pause to consider where we go from here." With Suzuki's statement, it would seem that previous reports might have been misinterpreted.

Stay tuned for more Studio Ghibli closing news here!