A 330-sq.-meter office with a double bed, sauna and tea room was where Nozomu Sahashi, ousted president of Nova Corp., worked as the language school chain steadily teetered near bankruptcy over the past few years.

Unveiled to the media last week, the spacious presidential suite on the 20th floor of Nova's head office in Osaka cost the company ¥2.7 million a month to rent and about ¥70 million to redecorate.

The posh office is yet another example of the reckless way Sahashi ran his firm, which filed for court protection under the Corporate Rehabilitation Law on Oct. 26.