Livedoor suspected of book-cooking, may face delisting
January 18, 2006Trouble at the Internet services firm Livedoor Co. deepened Wednesday amid fresh allegations that it falsified financial records for the 2004 business year, a stock exchange violation that could lead to its delisting from the Tokyo Stock Exchange. Livedoor stock, traded on the TSE's Mothers market for start-ups, ended the day at an ask-only 496 yen, down by the maximum daily 100 yen for the second straight day since Tokyo prosecutors raided the fast-growing company over alleged securities law violations on Monday.
TSE to delay start of afternoon trading by 30 minutes from Thursday
January 18, 2006The Tokyo Stock Exchange said Wednesday it will delay the start of afternoon trading by 30 minutes to 1 p.m. from Thursday ''for the time being.'' The emergency step follows the TSE's suspension of trading in all listed stocks Wednesday afternoon as the number of deals rose close to its computer system's deal-making capacity amid a plunge in stocks following raids by public prosecutors on Livedoor Co. offices.