The 78-year-old, a former Board member of the International Boxing Association (AIBA), has denied wrongdoing but came under pressure to step down from key officials including Japan Sports Agency chief Daichi Suzuki.

He also has acknowledged a long-term relationship with the leader of the Yamaguchi-gumi organised crime syndicate, but claims it is not related to any wrongdoing.

"Today, I tender my resignation," Yamane said in a specially convened press conference, according to Kyodo News.

"As President of the Federation, I apologise to the athletes that such a problem has occurred - I am very sorry.

"In the end, the Board of Directors left the decision up to me as the President, so I went home and consulted my wife. 

"She told me I should take care of my troubles now, so I made the decision [to resign].

"To athletes, I apologise as the President of this body for this problem. 

"Please, if in the future, you become unable to participate in the Tokyo [2020] Olympics, there will be the next Olympics - please work toward that."

He did not take questions or address many of the specific allegations against him.

Yamane has been a director of the Japan Amateur Boxing Federation since 1991 and has been its chairman since 2011. 

He served on the Executive Board of AIBA between 1994 and 2002. 

Concerns surrounding him came to light last month when a privately formed amateur boxing support group, led by former JABF Board member Yoshio Tsuruki, filed a complaint last month calling for an investigation in 12 specific issues.

This also included allegedly pressuring referees to give favourable treatment to competitors from his native Nara Prefecture and holding a monopoly over the sale of boxing gloves used in official competitions. 

He has been accused of controlling a front company, which are the only ones who sell gloves approved for official JABF competitions.

An independent committee has been set up to investigate the allegations under the order of the Japanese Olympic Committee and the Japan Sport Association.

"Mr. Yamane has previously served at the AIBA Executive Committee for a short period of time more than 15 years ago and under a previous management," AIBA told insidethegames.

"Since then, Mr. Yamane’s only position within the AIBA Family has been as President of the Japanese Boxing Federation. 

"AIBA just learned about the statements allegedly made by Mr. Akira Yamane last week, as such it would be premature for AIBA to make any comment at this time. 

"AIBA takes all accusations regarding improper judging or corruption seriously and will thoroughly investigate the issue."