>> The latest scandal to rattle corporate Japan. Tokyo prosecutors on Monday raiding the headquarters of two of the country's biggest construction firms. Suspected of colluding over contracts for an $80 billion Maglev train line, currently under construction to link Tokyo and Osaka. Investigator stormed the offices of Shimizu and Kajima sending shares in both companies plummeting on Monday.
It comes a week after official launched an investigation into Obayashi, another member of the so-called big four Japanese construction firms, suspected of bid rigging over Maglev related contracts. Japan's large and politically influential construction industry has been a frequent source of scandals such as bid rigging. Legislation has been tightened in recent years to prevent collusion over contract bids.
The Maglev itself has been criticized as costly, and runs in addition to Japan's already extensive bullet train network. Supporters like Japanese Prime Minister Shinzo Abe say the project will be a shot in the arm for the economy.