Finally this is getting made...
Yona Yona Penguin is an animated film currently in production by the Japanese anime studio Madhouse and sister company Dynamo Pictures. It will be Madhouse's first fully 3D CGI film. Famed Madhouse staff director Rintaro, known for Galaxy Express 999 and Metropolis, will helm the project. French production company Denis Friedman Productions is collaborating on and helping fund the film. The characters was designed by Terra (寺田克也) Release in 2009?
A heart-warming tale of fantasy and adventure, as three children left on their own, find friendship and courage for the first time in their lives.
more info at wikipedia