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Sekisui, Taisei Find Defects in Tokyo Apartment Complex

Sekisui House Ltd. said it found defects in a Tokyo residential complex being built by Taisei Corp. and is rebuilding parts of the project where apartments sell for as much as $3.5 million. Shares of both companies fell.

Taisei last month found about 20 columns out of 34 posts were missing some reinforcing metals in the building that will be 30 stories when completed next year in Shirokane, a neighborhood where many corporate executives live, Keiji Kobayashi, a Tokyo-based spokesman at Sekisui, said in a phone interview yesterday. Taisei is now fixing the defects by breaking the concrete and adding the necessary metals at the project sold by Sekisui, he said.