Nova Corp. is considering issuing new shares to strengthen its capital and dispel market concerns that its business could worsen in the wake of the government's order to suspend part of its operations, President Nozomu Sahashi said.
Although the details have yet to be worked out, the embattled English-language school operator thinks tapping external capital is a "measure toward a next step," Sahashi said Friday in his first interview after the business suspension order was imposed by the Ministry of Economy, Trade and Industry.
He dismissed the possibility of capital or operational tieups with rival language schools, saying, "We cannot expect a synergy."
However, he did refer to the possibility of concluding alliances with companies in other industries.