Although rumors of this had been floating around, it seems that G.education, the company currently behind the famous Nova name, is finalizing plans to create Nova University somewhere in the Tokai region.
They are also currently exploring other names for the new privately run university. A formal announcement about the future of the endeavor is forthcoming sometime later this month. They are working with Inayoshi Capital Partners (ICP) in order to meet any financial requirements from the Ministry of Education.
Although I think that a name change would be prudent, “Nova Daigaku” or Nova University could be a reality someday soon.
This news is currently being reported in all major Japanese media.