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Japan Prosecutors Raid Contractors in Maglev Probe

  • Prosecutors search offices of Kajima, Shimizu as part of probe
  • Collusion suspected in contracts on $80 billion rail line
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Bloomberg’s Stephen Stapczynski reports on a probe linked to a $80 billion magnetic-levitation rail line in Japan.(Source: Bloomberg)
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An investigation into collusion in Japan’s construction industry widened as Tokyo prosecutors raided the headquarters of Kajima Corp. and Shimizu Corp. in a probe linked to a $80 billion magnetic-levitation rail line.

Spokesmen for the two companies confirmed that their offices had been searched by the Tokyo District Public Prosecutors Office and the Japan Fair Trade Commission, after local media reported overnight that the two, as well as Obayashi Corp. and Taisei Corp., would be raided over alleged anti-monopoly violations in contracts for the maglev project.