Sunday, 3 November 2013

Six years following bankruptcy, Nova boosts the brand

In September, Tokyo-based Jibun Mirai Associe Co. (JMA) announced it would adopt Nova as its official corporate name - 19 months after it acquired the eikaiwa (English conversation) school chain from its previous operators, and almost six years after its well-publicized downfall.
It has been a rocky road for the school since the Oct. 26, 2007, bankruptcy announcement that put thousands of foreign-language instructors out of work (and in some cases out of apartments), even necessitating some governments to intervene and give them assistance.JMA, now called Nova Holdings Co., is hopeful that things are finally looking up.
Timing is everything. Nova is reportedly seeing an increase in children coming in for lessons, particularly from a young age.
Following the insolvency of the original Nova in October 2007, G.Communication revived the company a month later while retaining the Nova brand. Inayoshi Holdings did the same when it took over ownership in October 2010.
One highly recognizable character is the Nova usagi, a pink cartoon rabbit with a beak-like mouth. After making its debut in a TV commercial in September 2002, the Nova usagi enjoyed a high level of popularity that led to the creation of merchandise, apparel and even video games.

Source: NewsOnJapan

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