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November 20, 2007 |
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NOVA CORP: G.communication Opens Second School G.communication Co., which was selected to take over some of Nova Corp.'s operations earlier this month, opened its second foreign-language school on November 16 under the Nova name, Japan Times reports. According to Japan Times, the new school located in Nagoya's Kita Ward is the first to be opened in a building once used by Nova. G.communication, which runs the EC language-school chain, opened its first school under the Nova name on Nov. 14 near a major Nagoya train station. Japan Times adds that the Nagoya-based cram and language school operator has hired 30 former Nova teachers in the Nagoya area alone and is assigning them to the two local schools. G.communication, according to Japan Times, plans to open 27 additional schools in Tokyo, Osaka, Shizuoka and other places by the end of November, adopting the Nova brand for all of its schools. Meanwhile, a labor union representing former teachers at failed Nova Corp. launched a program on Nov. 17 that enabled students to pay for language lessons by buying them meals instead of paying tuition fees, Kyodo News reports. Nova, which closed its schools due to bankruptcy, left teachers out of work and pinched for money and deprived nearly 300,000 students of classes. About Nova Corp. Osaka-based Nova Corporation-- http://www.nova.ne.jp/ -- is primarily engaged in the operation of language schools. The Company has seven subsidiaries and two associated companies. The Company is involved in the teaching of languages, the creation of international environment of different languages and cultures, the provision of real time services, the development and provision of network contents, the development of hardware technology, the building of human network, as well as the organization of member groups to provide services internationally. The Company also has subsidiaries and associates, which are engaged in advertisement services, interior construction, facility and commodity sale, overseas study services, computer system services, real estate brokerage, facility leasing and installment sale, capital management, cleaning services, sanitary management, multimedia goods sale, Internet connection services, customer services and assistance to foreigners. Nova has reported two consecutive net losses -- JPY3.09-billion net loss for fiscal year ended March 31, 2006, and JPY2.89 billion for the year ended March 31, 2007. The Troubled Company Reporter-Asia Pacific reported that on Oct. 26, 2007, Nova Corp. sought protection from creditors with the Osaka District Court under the Corporate Rehabilitation Law with JPY43.9 billion in debt. |
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