News: Japan’s Itochu to end cooperation with Israel’s Elbit amid Gaza war

Conglomerate’s decision comes in wake of ICJ orders in ‘genocide’ case against Israel, ending strategic partnership that began seven months before Gaza war

The Japanese trading company Itochu Corporation announced that its aviation unit will end its strategic partnership with Israeli defense company Elbit Systems by the end of February 2023. This decision comes after the International Court of Justice ordered Israel last month to prevent genocide against Palestinians and help civilians. While the partnership was meant to import defense equipment for Japans self-defense forces, Itochu cited the ICJ ruling and Japans support for the court in suspending new activities under the agreement and planning to end it. Itochu reported lower profits for April-December 2022 due to decreased coal and pulp prices and smaller energy trading gains. However, the company maintained its full-year profit forecast despite being below analysts estimates.

Full story:

See also