According to Variety, Media Asia and Gaga Communications signed a deal at Cannes to collaborate on the distribution of the upcoming Initial D live action film.  Although later and with a different director than originally planned (see 'Live Action Initial D Film'), it appears that the film is now moving forward, with shooting scheduled to begin June 2nd. 

The film will be directed by Andrew Lau and Alan Mak, who also co-directed Infernal Affairs.