YES

(VAR x0 x1 x y z)
(RULES
  i(*(x0,x1)) -> *(i(x1),i(x0))
  *(x1,*(i(x1),x0)) -> x0
  *(x0,i(x0)) -> one()
  i(i(x0)) -> x0
  i(one()) -> one()
  *(x0,one()) -> x0
  *(i(x1),*(x1,x0)) -> x0
  div(x,y) -> *(x,i(y))
  *(*(x,y),z) -> *(x,*(y,z))
  *(i(x),x) -> one()
  *(one(),y) -> y
)

(COMMENT
Termination is shown by LPO with precedence:

  div > i > * > one
)