The Murphy administration is on the verge of pulling all state investments from a Japanese conglomerate that has severed its ties to Israel.
Citing a 2016 law signed by former Gov. Chris Christie that prohibits New Jersey’s pension system from investing in companies that boycott Israel, the state Division of Investment last month informed the ITOCHU Corporation that a preliminary determination had found the company became ineligible for state investment after it canceled a contract with an Israeli defense contractor.
The state investment division referred to public statements by ITOCHU officials that the contract was canceled in response to an order in January by the International Court of Justice that directed Israel to do more to prevent genocidal acts in Gaza.
The preliminary finding will become a final determination in early July, unless the company challenges in in the meantime.
