Woody, Buzz Lightyear, Rex, Mr. and Mrs. Potato Head, Slinky Dog, Hamm, and the rest of the beloved characters of Disney's "Toy Story" franchise will be back for a fourth installment come June 16, 2017.

This was announced by Walt Disney, Co., during the firm's earnings call Thursday, as reported by Los Angeles Times.

John Lasseter, the creative genius who helmed the first two films, will return to the director's chair for the fourth movie. However, he clarified that making another sequel to the highly-acclaimed film series is not inspired by business but by passion.

"A lot of people in the industry view us doing sequels as being for the business of it, but for us it's pure passion," LA Times quotes the director as saying. "We only make sequels when we have a story that's as good as or better than the original."

That will certainly be one great challenge for the filmmakers as the first three films, especially the third one, would be one tough act to follow.  Fans of the franchise will remember that "Toy Story 3" had a heart-wrenching finale, with the characters having had to say goodbye to their owner Andy. Andy, having grown into a young man, passed on the toys to a little girl named Bonnie.   One would think that that's already a great ending — a worthy closure — to a great story. 

Furthermore, the original "Toy Story" movie released in 1995 earned a total of almost $362 million at the worldwide box-office; 1999's "Toy Story 2" grossed over $485 million; and "Toy Story 3" from 2010 earned more than $1.063 billion, garnering a total revenue of $1.9 billion. The third movie was the highest grossing animated film, surpassing "Shrek 2," until "Frozen" broke its record this year. Other than being box-office hits, the films also garnered positive reviews and a number of accolades.

Lasseter said, "We don't just, because of the success of a film, automatically say we're going to do a sequel and then figure out what we're going to do."

With that, it seems that Disney already has great plans and a vision for the characters. According to the report, "Toy Story 4" will pick up from where the third movie left off, but while the plot will continue from the previous film, the upcoming installment will be a love story.