Let's Japan.org Debunking Eikaiwa and Ramblings in Japan

Sahashi's hand in running Nova into the ground is becoming clearer by the day. In part one of a three-part series,The Daily Yomiuri illustrates that even when he was about score with a tie up between Nova and Marui, he sabotaged the entire deal:

In a meeting held in late May in Tokyo, Nova's management was in the final stages of discussions over a capital and business tie-up with leading retailer Marui Co.

In return for Marui giving Nova a 6.6 billion yen capital injection, Nova would have given Marui exclusive rights to issue all loans taken out by its students. The deal would have included conditions favorable to allowing the four board members, including Sahashi, to stay in their posts.

But moments before an agreement was reached, Sahashi, 56, without giving a reason, asked for a little more time to consider the deal and walked out of the meeting. He could not be found for the next three days.

Sahashi's actions appalled Marui, which pulled the plug on discussions.

The former president's interference reportedly put an end to several more plans for tie-ups prepared by the board members, creating a widening gulf between Sahashi and the board.

How do you explain this? This was in May, before METI punished Nova and before Nova's financial situation took a dive off a cliff. We know that Nova was in the red the past two years, but the 6.6 billion yen deal with Marui and the others lined up by the board members could have saved Nova or at least lessened the impact of METI's six-month punishment. In concluding these deals, Nova may have also avoided the stock speculation that has raised so many eyebrows. But, for whatever reason, Sahashi chose to destroy the company. I wonder if he balked at the tie-up because he thought he wasn't getting a big enough slice of the pie? At least we now know why Rakuten and AEON are treating Nova like it's radioactive.

The end of the article shows Sahashi's arrogance and cowardice. The man wasn't listening to anybody:

However, it was the firm's area managers--executives in charge of groups of schools in each region--that sparked the board members' uprising.

The area managers handed a written petition to Sahashi in person on Aug. 17 demanding his resignation, and calling for the company to ensure Japanese staff and foreign instructors were paid on time.

The petition contained phrases such as, "We want Sahashi to step down to restore our corporate image."

The signatories also stated they would resign on Aug. 31 if Sahashi did not comply with their demands.

But even then, Sahashi is said to have offered little but excuses, making statements such as, "I'll have some good news for you in September," and "The company won't go under if we honor our debts."

The regional managers petitioned for Sahashi's resignation on five occasions, convinced the firm could not be rebuilt with him at the helm.

The board members and other executives contacted lawyers, the Economy, Trade and Industry Ministry and Sumitomo Mitsui Banking Corp., Nova's main bank, at the beginning of October to begin plans to oust Sahashi and to file for court protection.

Sahashi, an individualist who drove Nova to the top of the English conversation school market, is still in hiding.

"Ultimately, that man only ever thought of himself," one of Sahashi's aides commented.

Any takers on the next time we see Sahashi, he'll be in handcuffs?