Cable broadcaster Usen Corp.'s president, Yasuhide Uno, resigned Monday as outside director of Internet shopping mall Rakuten Inc. after purchasing a major equity stake in the Internet company Livedoor Co., Rakuten said.
Uno bought the 12.74 percent stake in Livedoor held by Fuji Television Network Inc. for 9.5 billion yen last week. Livedoor has plunged into a crisis due to former Livedoor executives' alleged accounting fraud.
Usen said Uno has become too busy to serve as a Rakuten outside director.
Uno also serves as outside director of Internet advertisement agent Cyber Agent Inc.