The Latest News in ELT

September 2007

NOVA to Close Hundreds of Schools? - Japan Times
The Japan Times has reported that NOVA may close hundreds of schools later this month. The Daily Yomiuri reports that sources indicate at least 50 will close. The company had 913 schools at the end of August. (September 22, 2007 )

NOVA Teachers Not Paid
Reports are mounting that many NOVA teachers did not get paid today -- the company's expected payday for foreign employees. One NOVA teacher reported to ELT News "I'm a teacher for NOVA in Takasaki, Gunma and I'm writing to tell you that we were not paid this morning. I think as many NOVA teachers as possible should know since NOVA has given us pay stubs as if we have been paid. We've called the head office and have been told that only the president knows what happened and they have no answers to give us." (September 14, 2007 )

GABA Unwanted?
Are the controlling shareholders of GABA looking to unload their stock? An informed source reports that financial advisors to controlling shareholders of GABA may be approaching likely companies with offers to sell. With the problems that NOVA is experiencing many might see this as an unprecedented opportunity for GABA and other English conversation schools. Instead it seems that many shareholders may be concerned with being tarred with the same brush and looking for an exit. (September 10, 2007 )

NOVA President Missing?
Unconfirmed rumours are circulating that NOVA's president, Saruhashi (Sahashi) may have gone missing. An informed source reports that he hasn't been seen since August 26th and that calls to his office go unanswered. (September 07, 2007 )

Pink Rabbit Goes Red
NOVA reported a group pretax loss of 4.3 billion yen for the April ~ June period. Japan's leading operator of English conversation schools has seen its business hit by revelations of illegal business practices, including false advertising. It was ordered by METI to suspend a portion of its operations for six months. Sales in the April~June period declined by 32% to 9.28 billion yen due to shrinking student enrollment. (September 04, 2007 )

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