Asahi Kasei Finds More Cases of Falsified Building Data in Japan

Asahi Kasei Corp., the Japanese subcontractor at the center of a probe stemming from a sagging apartment building, said it found more cases where data on foundation piles were altered.

The Tokyo-based company said it found falsified data on 19 of 41 projects that were overseen by the supervisor of the lopsided Yokohama building that triggered the investigation. A number of other employees doctored data on separate projects, Asahi Kasei said in a statement Monday.

The Land Ministry said it will search the company’s Asahi Kasei Construction Materials Corp. unit later today. NHK reported earlier Monday that company officials suspect the unit may have misused data on about 300 projects.

The scandal has sent Asahi Kasei’s shares down 22 percent since Oct. 13, when news of the flawed building first emerged. Shares of Sumitomo Mitsui Construction Co., the contractor, have plunged 26 percent.

Before it's here, it's on the Bloomberg Terminal.