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Livedoor delisted April 17, 2006

Posted by fukumimi in IT, Japan.
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April 13th (thursday) was the final day of trading for Livedoor and Livedoor Marketing, which have been delisted as a result of the scandal which surfaced back in January.

Livedoor ended its final day on the MOTHERS exchange at JPY94, down JPY7 (-6.93%) from the day before. LD was trading at around JPY700 when the scandal broke (and was just a shade under JPY800 in mid-december), and as low as JPY55 in mid-feb.

On the other hand, Livedoor Marketing was up JPY34 to JPY310 (+12.32%). LM was above JPY6000 when the scandal broke, but was as low as JPY215 as recently as early april.

The effect of the Livedoor scandal on the Tokyo Stock Exchange was illustrated by the fact that trading volume on MOTHERS on the 14th was approximately 6.63 million shares, compared with 63.42 million shares the day before. Livedoor and Livedoor Marketing had still accounted for more than 3/4 of the trading on MOTHERS even though trading of the two stocks was limited to just one hour between 2pm and 3pm to keep transaction volumes manageable for the TSE system which was running out of capacity. 

At one point after the scandal broke on Jan 16th, Livedoor stock accounted for 97% of all transactions on MOTHERS and 45% of all transactions on the TSE.

The trials of the corporate officers who were arrested are to begin as early as next month. Horie is still denying all charges, and it is expected he will be tried after his ex-colleagues go before the courts and plead guilty.

On a related note, what happened to the investigation of the death ("suicide") of the guy from HS Securities who was involved in the scandal?  Haven't heard much about that in the media lately, have we?

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