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KOCHI (Kyodo) Takafumi Horie, the former Livedoor Co. president, has withdrawn from co-ownership of a racehorse named after him, the National Association of Racing said Thursday.

The horse, which belongs to a horse-racing union in Kochi Prefecture, will keep its name, Horiemon. An association rule prohibits a name change.

Since the Internet entrepreneur’s arrest last week on suspicion of securities law violations, the horse has run no races, the Kochi union said. But Horiemon will return to the track later this month at the earliest, the union said.

The other co-owner of the horse submitted the notice of the horse ownership change to the association.

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