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October 15, 2010

G.education to close 20 Geos schools, rebrand 50 as "Nova x Geos"

Nova-Geos Inayoshi Capital Partners, owner of both the Geos and Nova chain of language schools through its subsidiary G.education, is renaming around 50 Geos schools "Nova x Geos". The company also said that it will close 20 Geos branches that compete head-to-head with Nova schools whilst another 20 Geos schools will be "integrated" with cram schools owned by G.education. The company said students of closed schools will be relocated to the nearby Nova schools or receive lessons via Nova's video-phone system.

G.communication took over the operations of Geos in April 2010 , after the chain filed for bankruptcy with debts of ¥7.5 billion (around 80 million US dollars).The corporation purchased Nova in 2007 after that chain's famous bankruptcy.

Note: According to METI, the number of students studying at "Foreign Language Conversation Schools" dropped from 9,562,427 in 2006 to 4,213,365 in 2009.

Reported by: Russell Willis

See also:
G.education (Japanese)
The Japan Times
The Daily Yomiuri
Download the METI statistics on Foreign Language Conversation Schools (Japanese)

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