Japan's animation production company Studio Ghibli, known for its Oscar-winning "Spirited Away" and "The Boy and the Heron," is to receive the Honorary Palme d'Or at the Cannes Film Festival.
The Festival de Cannes, which is one of the world's three major film festivals, made the announcement on Wednesday.
The Honorary Palme d'Or is usually awarded to individuals, such as film directors and actors, for their great contributions to cinema. It is the first time that Cannes will give the award to a group.
The festival's organizers praised the achievements of Studio Ghibli, established by anime film directors Miyazaki Hayao and the late Takahata Isao.
They said "the Japanese studio embodied by two superb storytellers, Hayao Miyazaki and Isao Takahata, and a host of cult characters, has unleashed a fresh wind on animated film over the past four decades."
The studio's producer Suzuki Toshio said he is truly honored to receive the award.
He said, "Although Miyazaki and I have aged considerably, I am sure that Studio Ghibli will continue to take on new challenges, led by the staff who will carry on the spirit of the company."
The 77th Cannes Film Festival will run from May 14 through May 25.