Although it was only a matter of time, it seems a bit crazy that it’s taken this long for Japanese mega-brand Sanrio to begin developing a Hello Kitty movie. Everyone’s favorite friend turned 40 last year and Sanrio recently established a U.S. subsidiary to globally expand the beloved brand (as if they need additional help). That subsidiary will be in charge of the upcoming Hello Kitty film, which has an incredibly large budget.

Deadline reports that the U.S.-based Sanrio Media & Pictures Entertainment is headed by Sanrio managing director Rehito Hatoyama, from Japan. Hatoyama will oversee the new Hello Kitty film project, which has an expected budget of $160 million to $240 million, including P&R costs. That’s kind of huge, but Sanrio is a major, worldwide brand, and its products have only grown in popularity over the last 40 years.

In addition to their assortment of boutique Sanrio products featuring various, friendly characters, there are Hello Kitty video games, mobile games and cartoons.

Fox Animation recently acquired the rights to Sanrio characters Mr. Men and Little Miss, while Sanrio is also considering the idea of making feature films based on some of their other characters, which include Badtz-Maru, My Melody, Little Twin Stars and Keroppi.

Although she may look like a cat, Sanrio has assured fans over the years that Hello Kitty is not a cat — she’s the personification of a cat. Hello Kitty is a little girl who has the aesthetic features of a cat, but mostly she’s just a friend. This has caused some confusion with fans over the years, but maybe Sanrio’s feature film will clear the air.

Also: how cute is this movie going to be, guys?!