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Seibu Holdings Inc. said Wednesday its subsidiaries Seibu Railway Co. and Prince Hotels Inc. have been sued by five trust banks over the railway’s delisting as punishment for falsifying financial statements.

In the joint damages suit filed June 30, Mitsubishi UFJ Trust and Banking Corp., Japan Trustee Services Bank, Trust & Custody Services Bank, Master Trust Bank of Japan and Barclays Global Investors Japan Trust & Banking Co. are seeking a total of 12.1 billion yen in compensation for losses alleged to have resulted from Seibu Railway’s delisting from the Tokyo Stock Exchange in 2004.

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