Troubled Japanese Internet company Livedoor Co. is not in any specific talks about potential partnerships and aims to keep operating with the focus on media, finance and business services, its new president said on Friday.

Kozo Hiramatsu, who was named president a month ago following the arrest of several top executives, said decisions will be made later on the fate of group companies that do not fall under the three business categories.

“We are not in any specific discussions with other companies right now,” said Hiramatsu, a U.S.-educated executive who has worked for companies such as Sony Corp. and American Express Co.’s Japan operations.

Comparing his sudden appointment to a baseball pitcher who sent to the mound before having chance to warm up, Hiramatsu, who came to Livedoor about a year ago, admitted it took time for him to get used to the idea of leading the effort to re-build Livedoor.

“I’ve now gotten used to 16-hour work days, seven days a week,” he quipped, adding more seriously: “Livedoor can regain society’s trust if we work as a team in managing the company responsibly.”

Livedoor’s founder and former chief executive, Takafumi Horie, and several other top executives have been arrested on suspicion of violating a securities law by falsifying accounts, spreading false information and submitting false financial statements.

The Internet firm is currently listed on the TSE Mothers market for start-ups, but the Tokyo bourse last month moved Livedoor shares to a monitoring status, bringing the firm closer to a possible delisting.

Asked about the possibility of delisting, Hiramatsu called the exchange’s actions “uncontrollable”, and said he would focus on things that he could control.

Hiramatsu said the company intended to call an extraordinary shareholders’ meeting before June.

He also said it would take steps to tighten corporate governance in line with recommendations outlined by a compliance committee.

“I’m going to get rid of festering wounds completely even if it means taking disciplinary action against current executives,” Hiramatsu said, adding that Horie would not return to the company regardless of the outcome of the criminal case against him.

Source-Reuters