Major contractor Obayashi admits antitrust violation over maglev bid

Major Japanese construction company Obayashi Corp. has admitted to an antitrust violation over bidding for work linked to the Tokyo-Osaka maglev train link, sources close to the matter said Tuesday.Obayashi has admitted to the Japan Fair Trade Commission that it was involved in bid obstruction with three other major contractors -- Taisei Corp., Kajima Corp. and Shimizu Corp. -- exempting it from a fine under the commission's leniency rules.Meanwhile, the Tokyo District Public Prosecutors Office and the FTC on Tuesday searched the headquarters of Obayashi and Taisei over their alleged involv…READ FULL ARTICLE