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Livedoor Boss Steps Down

The saga continues as head of Livedoor and Japanese celebrity Takafumi Horei steps down,


Kozo Hiramatsu (the company's executive) to take his place.

As reported yesterday, Livedoor's chief Takafumi Horei was arrested along with 3 other staff members amid allegations of supplying shareholders with misleading information. Japan's Nikkei stock market has said it will begin monitoring the company but shares are still being traded, as they dropped 31% on Tuesday,

to ¥176.

The company faces being delisted from the stock market if found guilty of misinforming investors, though

Horei has repeatedly denied any wrongdoing.

View: BBC News Coverage

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