Prosecutors on Wednesday searched Toray Industries Inc., Toho Rayon Co. and Mitsubishi Rayon Co. over allegations that the three textile companies illegally agreed to fix prices of carbon fiber in the United States in violation of U.S. antitrust law.
The Tokyo District Public Prosecutor's Office conducted the search at the request of U.S. law-enforcement authorities, who are currently investigating the alleged cartel, prosecutors said.
The three textile makers are said to supply about 70 percent of world demand for carbon fiber, which is estimated at over 10,000 tons per year. Carbon fiber is used in golf clubs and tennis rackets, as well as in earthquake-resistant construction materials.