Japan: Banks funding nuclear weapons industry abroad

According to the Dutch peace organization PAX, six Japanese banks are involved in financial dealings with foreign companies involved in the nuclear weapons industry, including through funding agreements or the holding of shares. 

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9 January 2015

Japan: Major Japanese banks investing in nuclear weapon industries

Author: Kyodo News (共同通信)

Six major Japanese banks are included in a list released by the Dutch peace organization PAX released on 29th December of 411 banks and funds investing in industries involved in the production of nuclear weapons, The Japanese banks are Mitsubishi UFJ Financial Group, Mitsui Sumitomo Financial Group, Mizuho Financial Group, Orix Corporation, Mitsui Sumitomo Trust Holdings and Chiba Bank.

According to PAX’s findings, each of the firms has owned 0.5% or more shares in nuclear weapon companies since 2011. In response, Mitsubishi UFJ, Mitsui Sumitomo and Mizuho refused to comment on individual investments, while Chiba Bank stated “We are not currently investing in companies that we recognize as being involved with nuclear weapons.” On the other hand, Orix Corporation have stated that they are not directly funding the companies: “Our firm is a 90% shareholder in a Dutch asset management firm, which may be funding the listed companies”.

PAX released a similar list in 2013 which included all the firms except Mitsui Sumitomo Trust Holdings.

[English summary of main points of Japanese article, made by Business and Human Rights Resource Centre]

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