NJ may pull public investments from Japanese company for cutting ties with Israeli defense contractor
The state’s potential divestment from the Itochu Corporation would make New Jersey one of the first publicly known states since the Oct. 7 Hamas attacks on Israel to penalize a company for cutting ties with an Israeli business. And it comes as college campuses across the country,, face student protests demanding that colleges divest from companies linked to Israel.and is involved in textiles, energy, food, machinery and other businesses. As of Dec.
The law has rarely been used since Christie signed it, although this is the first time New Jersey has cited it since the start of the Israel-Hamas war. In the April 10 letter, a state Treasury official notified Itochu Corporation CEO Masahiro Okafuji that the state made a preliminary decision that the company “boycotts” Israel.
Itochu has not responded to the state’s letter, Currie POLITICO Wednesday afternoon. Itochu did not respond to POLITICO’s request for comment.