Scandal-tainted Livedoor Co. is to be expelled from the Mothers market for startup firms Friday amid allegations it falsified its financial statements. But while the Internet firm is not leaving willingly, over the past year a number of companies have walked away from the stock market on their own after deciding that being listed is doing them more harm than good.
Last July, major apparel manufacturer World Co. surprised the market by announcing a management buyout plan that took the company private. World was formally delisted from the Tokyo Stock Exchange in November.
Masako Wakimoto, spokeswoman for Kobe-based World, said the company decided to delist to prevent interference from shareholders and analysts, whom she accused of being bent on winning short-term profits.