"Myanmar pearl company TASAKI and investors risk complicity in Myanmar military junta’s international crimes," 10 July 2024

TASAKI must responsibly end all business with the sanctioned entity Myanmar Pearl Enterprise.

Mekong Watch and Justice For Myanmar have sent letters dated June 11, 2024 to TASAKI and its potential investors FountainVest Partners and Unison Capital, raising concerns over TASAKI’s continuing partnership with Myanmar Pearl Enterprise (MPE), a US, UK, and Canadian sanctioned state-owned enterprise illegally controlled by the Myanmar military junta. The Myanmar military continues to commit war crimes and crimes against humanity with total impunity, relying on revenue from MPE and other junta-controlled entities. The two organizations urged TASAKI to responsibly end all business with MPE.

The letter inquired whether TASAKI, a luxury jeweler founded in Japan, has performed human rights due diligence since the military’s coup attempt, the results of that due diligence and what measures TASAKI has taken in response. The two organizations further urged TASAKI to publicly disclose its transactions with MPE and other junta-controlled entities since February 1, 2021...

The military junta benefits from revenues generated through the pearl industry, including through a production sharing agreement under which MPE reportedly receives 20-25% of the pearls harvested, as well as through customs duties, other taxes and the transfer of technology that can support further production...

Despite grave concerns that the military is committing these crimes relying on revenue from MPE and other junta-controlled entities, TASAKI did not disclose any information by the requested deadline on July 5, 2024.