The ongoing series is set in a world where the majority of the population possess a “Quirk,” or an innate power that varies wildly in strength and utility. The main character, Izuku Midoriya (or Deku), is one of the 20 percent that were born without a quirk, but dreams of becoming a superhero.

Although Deku’s goals seems hopeless, a chance encounter with Japan’s greatest hero All Might ends with the crimefighter gifting the idealistic young man with the quirk to manipulate energy — so Deku enrolls in U.A. High School to train towards becoming the greatest hero of all. The series follows Deku as he makes friends at the academy, battles increasingly powerful villains, and competes with his childhood bully and rival Katsuki Bakugo.

The news of the acquisition comes four years after the film was announced to be in development at Legendary Entertainment. Last year, Shinsuke Sato, a Japanese filmmaker best known for directing the live-action manga adaptation “Alice in Borderland,” was set as the film’s director. He’ll work off a script written by Joby Harold, whose credits include “Army of the Dead,” “Obi-Wan Kenobi,” and the upcoming “Transformers” film “Rise of the Beasts.”

Legendary’s Mary Parent and Alex Garcia produce the film adaptation; Sato executive produces. Netflix will distribute the film worldwide, while Japanese distribution company Toho will release the film theatrically in the manga’s home country.

Since it began publication in 2014 via manga magazine Weekly Sh?nen Jump, “My Hero Academia” has become one of the highest-selling manga series of all time, with roughly 65 million sales worldwide. The series has also been acclaimed, particularly for Horikoshi’s artwork and fight scenes, and has won several best-in-manga awards in Japan as well as an American Harvey Award.

The comic was adapted into an anime series in 2016, which is currently airing its sixth season on streaming service Crunchyroll. Three animated movies have been released: “My Hero Academia: Two Heroes,” “My Hero Academia: Heroes Rising,” and 2021’s “My Hero Academia: World Heroes’ Mission.”

The “My Hero Academia” manga series can be read via Viz Media.