The film is based on an original idea by John Linson and has been scripted by Andrew Baldwin.
Linson will produce alongwith Joel Silver, Andrew Rona and Steve Richards. The film is expected to begin shooting by next year in Japan, the Deadline reported.
The film is an epic story set in post-World War II Japan, chronicling the life of a former American GI who becomes part of the Japanese yakuza.
Hardy is also in the race to to play Elton John in 'Rocketman'. He will next star in the franchise reboot 'Mad Max: Fury Road'.
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