Like many readers here, zakzak wonders about the odd combination of restaurant companies and English conversation schools.
As you know by now, G.communication, which operates Nova and GEOS, which in turn was owned by Foodys, is now owned by Hanshin Shuhan after it acquired Foodys' 50.9% share of the company. Foodys sold its shares in G.communication in order raise money when its main bank, the Incubator Bank of Japan, was shut down by the Financial Services Agency on suspicion of obstructing an FSA audit. According a source that spoke with zakzak, Foodys sold its shares on the condition that Hanshin Shuhan assumed the loan that Foodys used to buy its stake in g.communication.
Zakzak then delves into the histories of the companies involved.
Zakzak asks, "Where is the money for these M&As coming from?" One of Hanshin Shuhan's major shareholders are limited investment partnerships with investment enterprise Orix #10 being mentioned. An executive in a business research firms tells zakzak that Hanshin Shuhan is more an investment company than anything else. If true, izakayas and eikaiwa make for strange bedfellows in the world of mergers and acquisitions.
Comment: When I was a kid I was really into trading hockey cards and playing games like "knock down," farthies" and "scramble." I get the sense that the same thing is being done with GEOS and Nova, except that they aren't particularly valuable--kind of like picking up some 4th-liner pylon in a game of "scramble." They are minor players in larger deals and will eventually find themselves discarded and clothes-pegged in the spokes of some unlucky investor's bicycle.