No. The Konami server is definitely no host.
PES uses P2P mode in online games. That means, the faster of the 2 PCs will be the host, meaning the game code will be executed by the faster PC where as the other PC will only be receiving and sending information. This most probably also means that the faster PC will play as a home team.
The Konami servers definitely do not host games, they only provide the arena for setting up matches. If they had ever hosted games, there would be far less cheating online, as people only can cheat by throttling their incoming connections and make it look like the other PC's connection dropped and thereby earning or at least avoid losing points.
If the Konami server was hosting, they would be the neutral third party verifying if the connection really did drop, or whether only the other PC was unable to receive it.
@DivineSaint: You complain about being the away team most of the time. Could you please write your systems specifications?