A new detection system has been installed at the RIKEN Nishina Center (Japan) to investigate decay properties of very neutron-rich nuclei. The setup consists of three main parts: a moderated neutron counter, a detection system sensitive to the implantation and decay of radioactive ions, and γ-ray detectors. We describe here the setup, the commissioning experiment and some selected results demonstrating its performance for the measurement of half-lives and β-delayed neutron emission probabilities. The methodology followed in the analysis of the data is described in detail. Particular emphasis is placed on the correction of the accidental neutron background.