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Nova teachers offer classes for food
A union representing teachers of Nova Corp. said Thursday its ranks will soon launch a “Lesson-for-Food” campaign in which they will offer free classes to students of the failed foreign-language school chain in exchange for basic food or meals. The union said in Tokyo that it has also started accepting donations to help Nova teachers…
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Ex-NOVA president Sahashi denies fleecing company over videophone sales
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…
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Nova share trading shady near the end
Boss unloaded amid volume, price flux Irregular transactions took place in the trading of shares in Nova Corp. in late August and early September ? well before the ailing foreign language school chain was put under court protection for rehabilitation last week, market sources said Thursday. The large volume of transactions and wild price fluctuations…
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Union reveals plan for feeding unpaid starving NOVA teachers: ‘Lesson for food’
Union representatives of the scandal-plagued NOVA Corp.’ foreign employees met the foreign press in Tokyo on Thursday, to unveil their relief plans for their fellow instructors who struggle to survive while their wages remain unpaid. The announcement at the Foreign Correspondents’ Club of Japan in Tokyo’s Chiyoda-ku came a week after NOVA, Japan’s largest English…
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Ex-Nova president may face charges
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
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Nova chief’s profit company’s loss / Fired president suspected of breach of trust over equipment deal
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…
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Canadians face new headaches after language school goes bankrupt
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…
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NOVA–END OF THE TRACKS? / Nova’s business model based on faulty premise
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…
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NOVA plans to decide on firm to bail out business by next week
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…
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Nova may seek charges against Sahashi
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…