Moritomo Gakuen President Yasunori Kagoike announced his intention to resign Friday after telling Osaka Prefecture that he was withdrawing an application to approve the opening of a new elementary school.

With the withdrawal, which the prefecture has accepted, Mizuho no Kuni will not open as scheduled on April 1.

At a Friday evening news conference, Kagoike said he was resigning to take responsibility for the fact that the new school couldn't be completed.