Obayashi Corp shares tumble as media report alleged bid rigging

OBAYASHI

11/12/2017 24:55

TOKYO, Dec 11 (Reuters) - Shares of Obayashi Corp  1802.T  
were down as much as 6 percent on Monday after media reported it 
is under investigation on suspicion of rigging contracts for 
Japan's magnetic levitation train line.  
    Obayashi Corp, one of Japan's biggest construction firms,  
said in a statement late on Friday it had been searched by 
prosecutors without providing details.  
    Media reported that a senior Obayashi executive was 
questioned over the suspected rigging of bids for contracts 
related to Central Japan Railway Co's  9022.T  magnetic 
levitation train line that will link Tokyo and Nagoya.  
 
 (Reporting by Sam Nussey; Editing by Stephen Coates) 
 ((sam.nussey@thomsonreuters.com; +81364411596; Reuters 
Messaging: sam.nussey.thomsonreuters.com@reuters.net)) 
 
Keywords: OBAYASHI PROBE/