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ELT for Tohoku donate 1.6 million yen to NGOs
(click to enlarge) Handover of the donation cheque on June 29 2012 to Living Dreams in Shibuya, Tokyo.
From left to right: Rie Watanabe (Living Dreams), Karl O'Callaghan (OUP), Mikiko Matsumoto (Living Dreams), Alastair Lamond (Englishbooks.jp), Brendan Delahunty (Pearson), Akiko McDougall (mpi), Matthias Reich (ELTBOOKS.com), Chiharu Takano (Cengage), Ayako Kondoh (McGraw-Hill) and Gandhi (Living Dreams).
Over the course of the following year, participating publishers, among them Pearson Kirihara, Oxford University Press, and Macmillan, donated more than 17,000 books, which have been sold to teachers and schools in Japan at events and by online textbook distributors ELTBOOKS.com and Englishbooks.jp. 100% of sales of donated books was then forwarded to Ashinaga and Living Dreams.
"While interest in the Tohoku area has certainly been waning over the past few months, we still hope to raise more money by selling donated books to teachers in Japan. We have many more books left, and purchasing those books helps both sides – teachers who can buy material for less then usual, and the two NGOs trying to help children in the Tohoku area," said Matthias Reich, president of ELT Services Japan Ltd., representing ELTBOOKS.com in the consortium.
More pictures and information available on ELTforTohoku.org.
See also:
• ELT for Tohoku donated books on sale
• List of all ELT for Tohoku members
• Ashinaga (English Website)
• Living Dreams (English Website)
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Pearson buys GlobalEnglish for $90 million dollars
ELT for Tohoku donate 1.6 million yen to NGOs
(click to enlarge) Handover of the donation cheque on June 29 2012 to Living Dreams in Shibuya, Tokyo.
From left to right: Rie Watanabe (Living Dreams), Karl O'Callaghan (OUP), Mikiko Matsumoto (Living Dreams), Alastair Lamond (Englishbooks.jp), Brendan Delahunty (Pearson), Akiko McDougall (mpi), Matthias Reich (ELTBOOKS.com), Chiharu Takano (Cengage), Ayako Kondoh (McGraw-Hill) and Gandhi (Living Dreams).
Over the course of the following year, participating publishers, among them Pearson Kirihara, Oxford University Press, and Macmillan, donated more than 17,000 books, which have been sold to teachers and schools in Japan at events and by online textbook distributors ELTBOOKS.com and Englishbooks.jp. 100% of sales of donated books was then forwarded to Ashinaga and Living Dreams.
"While interest in the Tohoku area has certainly been waning over the past few months, we still hope to raise more money by selling donated books to teachers in Japan. We have many more books left, and purchasing those books helps both sides – teachers who can buy material for less then usual, and the two NGOs trying to help children in the Tohoku area," said Matthias Reich, president of ELT Services Japan Ltd., representing ELTBOOKS.com in the consortium.
More pictures and information available on ELTforTohoku.org.
See also:
• ELT for Tohoku donated books on sale
• List of all ELT for Tohoku members
• Ashinaga (English Website)
• Living Dreams (English Website)
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Pearson buys English testing service in China for $294 million
GETG provides English language test preparation services for students with 450 centres across 60 cities in China. It is expected to make $65m in revenues this year.
John Fallon, chief executive of Pearson's International Education Business commented: "Through organic investment and complementary acquisitions, we're learning a lot about the very significant growth opportunities we see in China and about the value of combining our content and technology with high-quality school networks."
The deal follows the $145m purchase of the Wall Street Institute chain of language schools in China in 2009.
« Macmillan to move to London from Oxford | Main | Online preparation for Cambridge English will have everybody speaking »
Gaba to be sold to Nichii Gakkan for $127 million
Nichii Gakkan, a medical / education business has confirmed that it intends to purchase shares of the English conversation school chain Gaba in an attempt to bolster its education business. The company plans to spend up to 10 billion yen (around 127 million dollars) to make Gaba a wholly owned subsidiary. Nichii said it will buy at least the 26,390 shares owned by Gaba's main shareholder, Daiwa Corporate Investment Co. It set no maximum number of shares that it will purchase. The offer price of 200,000 yen per share is a 53% premium over Friday's close. Gaba, a company listed on the Mothers section of the Tokyo Stock Exchange, has agreed to the move.
Gaba operates classes at 36 locations in the nation's three major metropolitan areas and had sales of 7.75 billion yen and 596 million yen in net profit for the year ended December 2010.
Accoding to the Nihon Keizai Shinbun, Nichii is "seeking to broaden its lineup of educational services by adding programs that use the Internet to teach English. Even though its offerings have expanded beyond its mainstay preparatory courses for medical and nursing licenses, it is still struggling. The firm expects the Gaba brand to help it win contracts for corporate English training and to expand its online offerings."
Gaba was founded by Hideki and Karen Yoshino in 1995 before being sold to NIF Capital Management in 2004, reportedly for tens of millions of dollars. It went public on Mothers in 2006 with a share price of ¥276,000. The value of those shares steadily sunk to a low of just over ¥13,000 in February 2009 before bouncing back to its current ¥130,000 level.
See also:
• Gaba website (in Japanese)
• Nichii Gakkan website (in Japanese)
• NIF buys Gaba (2004)
• Gaba to go public (2006)
• Daiwa Corporate Investment website
Macmillan fined £11.2 million for "unlawful conduct" by Serious Fraud Office
Macmillan Publishers has been fined more than £11 million (around $18 million) for "unlawful conduct" carried out by a subsidiary of Macmillan Education including the attempted bribing of World Bank officials for textbook contracts in Sudan. The fine was levied as part of a civil settlement organized through the UK's Serious Fraud Office. In May last year the World Bank announced it has banned Macmillan UK from being awarded any of its contracts for six years following the admission of bribery payments.
"We will not tolerate any form of potentially unlawful behaviour," Macmillan Chief Executive Annette Thomas said in a statement by the publisher.
See also:
• Serious Fraud Office
• Macmillan Education
Macmillan fined £11.2 million for "unlawful conduct" by Serious Fraud Office
Macmillan Publishers has been fined more than £11 million (around $18 million) for "unlawful conduct" carried out by a subsidiary of Macmillan Education including the attempted bribing of World Bank officials for textbook contracts in Sudan. The fine was levied as part of a civil settlement organized through the UK's Serious Fraud Office. In May last year the World Bank announced it has banned Macmillan UK from being awarded any of its contracts for six years following the admission of bribery payments.
"We will not tolerate any form of potentially unlawful behaviour," Macmillan Chief Executive Annette Thomas said in a statement by the publisher.
See also:
• Serious Fraud Office
• Macmillan Education
Macmillan fined £11.2 million for "unlawful conduct" by Serious Fraud Office
Macmillan Publishers has been fined more than £11 million (around $18 million) for "unlawful conduct" carried out by a subsidiary of Macmillan Education including the attempted bribing of World Bank officials for textbook contracts in Sudan. The fine was levied as part of a civil settlement organized through the UK's Serious Fraud Office. In May last year the World Bank announced it has banned Macmillan UK from being awarded any of its contracts for six years following the admission of bribery payments.
"We will not tolerate any form of potentially unlawful behaviour," Macmillan Chief Executive Annette Thomas said in a statement by the publisher.
See also:
• Serious Fraud Office
• Macmillan Education