December 19, 2017 / 1:44 AM / in 2 months

Japan's Taisei Corp raided by prosecutors over alleged antitrust violations

TOKYO, Dec 19 (Reuters) - Tokyo prosecutors raided the headquarters of Japan’s Taisei Corp on Wednesday over alleged antitrust violations linked to $80 billion worth of magnetic levitation (maglev) train line projects, a company spokesman said.

Shares in Taisei, one of the so-called “big four” group of Japanese construction firms involved in the maglev project, fell as much as 5 percent on reports of the raid.

Peers Shimizu Corp and Kajima Corp were raided on Monday also on suspicion of antitrust breaches related to the projects. Obayashi Corp is already under investigation for suspected bid-rigging over maglev-related contracts. (Reporting by Thomas Wilson and Makiko Yamazaki; Editing by Stephen Coates)

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