[ Letter sent to 101 Investors to Urge Engagement with Tokyo Tatemono and Daiwa House Industry Regarding the Y Complex Project in Myanmar ] 26 May 2022

Eight civil society organizations that are deeply concerned about the business relationship that Japanese companies have with the Myanmar military sent a letter dated 24 May 2022 to 101 corporate investors holding shares in Tokyo Tatemono Co., Ltd. or Daiwa House Industry Co., Ltd. Land lease payments made by the two companies in connection with a real estate development project in Yangon (commonly known as “Y Complex”), estimated to be about 2 million USD per year, and will be a source of funding for the Myanmar military.

[...] The civil society organizations have pointed out to Tokyo Tatemono and Daiwa House on numerous occasions that they may be complicit in grave human rights violations perpetrated by the military and urged them to act in accordance with their own human rights policies and international standards. However, neither company has officially announced specific plans to avoid the risk of its activities in Myanmar abetting grave human rights violations and international crimes by the Myanmar military.

The letter requests the corporate investors in Tokyo Tatemono and Daiwa House to promptly engage with the two companies to urge them to take measures to ensure that their business activities do not benefit the Myanmar military. The letter further asks the corporate investors to consider divestment if the companies do not take sufficient measures.