Livedoor Revolt Grows, Unit to Sever Ties With Parent

13 February 2006

    TOKYO - Yet another unit of disgraced Japanese media and internet giant Livedoor is attempting to leave the group.
    Livedoor Auto, a car sales company, announced last week it had ousted president Hiroshi Haneda (39) in favor of his boardroom colleague Hirofumi Inoue (41).
    At an extraordinary board meeting, Livedoor Auto decided it would nullify its capital and business alliances with Livedoor, which holds 51% of the auto company.
    Inoue on Friday met with Livedoor president Kozo Hiramatsu today to convey the unit's intention to leave the scandal-ridden group.