Akinobu Kamebuchi

President Akinobu Kamebuchi and Vice President Kunio Amai are to step down in late June, when their tenures expire, the sources said.

Livedoor has effectively seized a controlling stake in the radio broadcaster in the course of a two-month-long takeover battle with the Fujisankei group's flagship firm, Fuji Television Network, Inc.

Backed by a stake exceeding 50 percent, Livedoor is drawing up a proposal to replace more than half of the radio company's board of directors with executives friendly to Livedoor at Nippon Broadcasting of shareholders' meeting in late June.

Even if Livedoor asks Kamebuchi and Amai to stay on the board, the two "are expected to turn down such a request," a Fujisankei group executive said.

The Japan Times Weekly: April 16, 2005
(C) All rights reserved