Category: Eikaiwa

NOVA Corp. founder Nozomu Sahashi denies having illegally profited from the sale of overpriced videophone equipment to the firm, according to his lawyer. Receivers for NOVA are considering filing a criminal complaint with law enforcers accusing Sahashi, 56, the sacked president of the company, of aggravated breach of trust for unfairly profiting from the sale…

Lawyer and bankruptcy administrator Toshiaki Higa-shibata said the [Nova Group] company, Ginganet Co., unfairly obtained billions of yen in profits through the intra-group ruse. Higashibata is now considering filing a criminal complaint against [ousted Nova Corp. President] Sahashi on suspicion of a special breach of trust. http://www.asahi.com/english/Herald-asahi/TKY200711010091.html

A luxury president’s suite in a commercial building in Osaka used by Nozomu Sahashi, former president of Nova Corp., which has filed for court protection against bankruptcy, was shown to the press on Tuesday night. Lawyer Toshiaki Higashibata, a preservation administrator of the firm, said, “This suite is a symbol of how the former president…

Hundreds of Canadians who lost their jobs following the collapse of Japan’s largest chain of language schools are now faced with another frustration: Today they will lose all of the health coverage provided to them by their former employer. Nova, a well-known company that taught languages to an estimated 400,000 students, filed for bankruptcy protection…

English conversation school chain operator Nova Corp. has filed for court protection from creditors after running into financial trouble under its president, Nozomu Sahashi, who has since been sacked by other board members. This is the final installment of a three-part series of articles taking an in-depth look at Nova’s collapse. The dramatic collapse of…

Collapsed English-teaching company NOVA Corp., which has filed for financial protection, is in talks with several firms standing as candidates to bail out the company, it has been learned. All of the firms are operating businesses, and none of them are investment funds, officials said. NOVA hopes to decide on a firm to provide financial…

Nova may file criminal charges against former President Nozomu Sahashi over questionable transactions between the failed foreign-language school chain and a firm he effectively ran, court-appointed administrator Toshiaki Higashibata said Tuesday. He also said Sahashi, who was ousted by Nova’s board of directors last week, had contacted him and implied he would challenge the board’s…

While 300,000 students are worrying about their prepaid tuition and 4,900 foreign teachers are waiting for unpaid wages, lawyers appointed to act as receivers for the bankrupt Nova Corp. recently discovered that Nozomu Sahashi, the former president, had secretly sold a 50%-plus stake in the ailing English-language school chain. Japan’s biggest foreign language school, Nova…

Westerners, including Oregonians, who taught English Growing up in Oregon, Kristen Campbell-Schmitt folded intricate paper cranes, worked in a Japanese restaurant and took a high school trip to Japan. Her passion for the country extended through the University of Oregon and returned her to Tokyo, where she began teaching English in 2005. Now Campbell-Schmitt, 26,…

The caretaker administrator of Nova Corp. announced Tuesday that they had started negotiations with three firms–one based in Tokyo and two in Osaka–to become corporate sponsors as part of efforts to rehabilitate the failed English conversation school chain operator. The administrator said he hoped to be able to choose a corporate sponsor next week. One…