Livedoor Marketing picks new head after arrest of Okamoto
January 24, 2006Livedoor Marketing Co. said Tuesday it has named Director Satoshi Hoyano as the new president, succeeding Fumito Okamoto who was arrested Monday. Hoyano, 44, joined Livin' on the Edge Inc., the predecessor of Livedoor Co., Livedoor Marketing's parent firm, in 2000 as one of its board members. He became a director of ValueClick Japan Inc., Livedoor Marketing's predecessor, in 2004.
TSE to cut Livedoor stock's daily trading to 1.5 hours
January 24, 2006The Tokyo Stock Exchange said Tuesday it will limit daily trading hours for Livedoor Co. stock to 1.5 hours, starting Wednesday, to prevent a torrent of sell orders for the stock from paralyzing the entire Tokyo bourse. Investors will only be allowed to trade shares in the Internet firm, which has been the focus of recent media attention over allegations of accounting fraud, between 1:30 p.m. and 3 p.m., the TSE said.
Horie steps down, Livedoor execs reverse earlier claims
January 24, 2006Livedoor Co. President Takafumi Horie stepped down Tuesday, a day after he was arrested on suspicion of violating securities laws and the company named Kozo Hiramatsu, its senior vice president, as president. Meanwhile, prosecutors quoted Livedoor executives as saying, contrary to their earlier claims, that Horie was involved in some of the corporate takeover deals currently being investigated.