Moritomo Gakuen, a Japanese school operator at the center of a controversial state land deal, filed for court protection from creditors under the civil rehabilitation law on Friday.
Moritomo Gakuen, based in Osaka, western Japan, has estimated liabilities totaling 2 billion yen, according to a private credit research agency. The filing was made with Osaka District Court.
The school operator drew controversy for its purchase last year of a state-owned plot of land in the city of Toyonaka in Osaka Prefecture at a price some 800 million yen lower than its assessed value.
Moritomo Gakuen acquired the land to open an elementary school but withdrew the school plan after coming under fire for the deal as well as the submission of false documents on construction costs to regulators.
Airbnb estimates that its services contributed 920 billion yen ($8.35 billion) to the Japanese economy in 2016, up 80% from the previous year, as foreign users took advantage of affordable lodging in big cities and rural areas. (Nikkei)
Princess Kako, a granddaughter of Emperor Akihito, will study at the University of Leeds in Britain from September this year to June next year as an exchange student, the Imperial Household Agency said Monday. (Japan Today)
Tokyo Metropolitan Police have arrested the former manager of an illicit parlor in Shinjuku who is suspected of instructing teenage girls to perform sex acts with customers, reports TBS News. (tokyoreporter.com)
The Japanese government has decided to start landfill work at the Henoko coastal area in the city of Nago, Okinawa Prefecture, on Tuesday for the relocation of the U.S. Marine Corps' Futenma air base, informed sources said Monday. (Jiji)
The Bank of Japan wants financial institutions to lend more money under its large-scale monetary-easing policy. But it's worried that some regional banks are too eager to offer real estate loans, especially for building rental housing. (NHK)
Two elderly women were hit and killed by a train at a station in Kanagawa Prefecture, south of Tokyo, with surveillance camera footage showing the two jumping on the tracks holding each other's hands, police said Monday. (Japan Today)
Rakuten Inc announced the official launch of "Rakuten Super English," a comprehensive English learning service utilizing technology to provide a practical English learning and a new style of studying. The launch of Rakuten Super English marks Rakuten's entry into the English education business. (Japan Today)