Japan firms fined $3.4M over train bidding corruption

Two major construction companies were Monday ordered to pay fines totalling more than $3 million for colluding to win contracts on Japan’s multi-billion-dollar maglev project.
The state-of-the-art maglev — magnetic levitation — trains are scheduled to begin commercial service between Tokyo and Nagoya in central Japan in 2027, later extending to the western hub of Osaka.

Gain a thorough understanding of the global anti-corruption best practices with ISO 37001 Anti-Bribery Management SystemThe giant project, estimated to cost nine trillion yen ($86 billion) in total, has seen a host of firms compete for contracts ranging from tunnelling work to building stations.

The Japan Fair Trade Commission brought charges against four companies in March for suspected anti-trust violations, accusing them of sharing estimated costs for construction work.

On Monday, the Tokyo district court ordered one of those companies, Obayashi, to pay 200 million yen ($1.77 million) and a second, Shimizu, to pay 180 million yen.

> Read entire article Japan firms fined $3.4M over train bidding corruption | AntiCorruption Digest

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