2 Japanese Companies Excluded from N.Z. Pension Fund

Economy

Sydney, April 15 (Jiji Press)--Two Japanese companies are among those that have been excluded from New Zealand's public pension fund in response to stricter gun control measures following fatal mass shootings last month.

The NZ Super Fund with 41 billion New Zealand dollars in assets removed seven companies including Japan's Daicel Corp. <4202> and NOF Corp. <4403>, both involved in gunpowder-related operations, according to the fund's announcement Friday.

New Zealand banned most semiautomatic weapons in the wake of the shootings in Christchurch, which killed 50 people.

The fund has decided to divest a total of 19 million New Zealand dollars. Among the other excluded companies were U.S. firearm makers American Outdoor Brands Corp. and Sturm, Ruger & Co.

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