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Stop CPP investments in firms selling military, police, spy or prison-related products
to Israel

Hitachi Canada
in 2011

$54 million

This is the online version of
Profiting from Israeli Apartheid:
Canada Pension Plan (CPP) Investments in Corporations Supporting Israelís Military-, Police-, Surveillance-, Prison-Industrial Complex (Part 1)"
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This diversified Japanese multinational, with US$110 billion in assets, is the worldís third largest technological company.

Hitachi makes construction equipment used at the Salit Quarry in an Israeli settlement near Ramallah, in the occupied West Bank. Gravel from the quarry is sold wholesale to Israelís Readymix Industries, which supplies construction materials for Israelís separation wall, checkpoints and other infrastructure in the West Bank, is owned by CEMEX.

Hitachi also has a wholly-owned subsidiary in Israel called Hitachi Data Systems. In 2002, its manager, Amikam Magen, said Israel was an "emerging market in the storage, information security and communications sectors" and that Hitachi was "looking to invest in these sectors through Vertex Management Israel [VMI]. VMI, he said, "finds relevant opportunities for direct investments by, or cooperation agreements" with Hitachi.

News that Hitachi had appointed VMI "as its investment representative in Israel" was reported by Harel-Hertz Investment House, which promotes "business activities between Japan and Israel." Its 2002 report noted that Hitachi would invest "[US]$6-11 million a year in Israeli start-ups, and might invest more if opportunities arise." Hitachi, it said, had already put about US$12 million in Israeli firms.

VMI manages several funds for Vertex Venture Capital (VVC), in which Hitachi has invested US$43 million. VVC finances many Israeli high-tech, start-up firms, including those serving the "homeland security" and military markets.

Hitachi has also invested in, and partnered with, high-tech Israeli companies that provide products and services for military, police and intelligence agencies in Israel and elsewhere.

Voltaire Ltd.

In 2002, Hitachi invested US$2 million in Israelís Voltaire, which produces "switching solutions as part of a powerful [Hewlett-Packard] HP clustered supercomputer for advanced weapons system design Wright-Patterson Air Force Base in Ohio." Two of Voltaireís largest customers are HP and Oracle, which both supply Israelís military. (See Oracle in table "CPP Investments.")

Magic Software Enterprises

In 2005, an Israeli newspaper, Globes, reported that "Hitachi Software Engineering will market Magic Software Enterprisesí integration tools." In 2010, Magic was contracted to "upgrade and maintain" the core IT system for Israelís Military Police. This "large, multi-year project" gave Israelís military police "real-time status reporting and a full picture of nation-wide operations."

XACCT Technologies

Hitachi has partnered with XACCT since 2002. Founded by "alumni of Israelís defense technology unit," XACCT provides "network data management solutions for global communications service providers." In particular, it is a leading producer of software used in the "collection, filtering, correlation and formatting of voice, data, content or commerce usage information" from "wireline carriers, mobile operators, cable operators, and managed services providers."

In "Big Brother Ė Real-Time Behavioral Monitoring," Dion Wiggins, CEO of Asia Online, warned that "XACCTís technology reveals some startling implications and opportunities for abuse." He noted that when XACCT cofounder and VP of Technology, Eran Wagner, was asked if his company was helping the FBI gather vast amounts of data, he said: "We provide them with a weapon; they could abuse the use of the weapon, but itís up to them." XACCT was acquired for US$30 million in 2004 by Amdocs.



COAT research (published in Issues 66 and 67 of Press for Conversion!) exposes that in 2011 the CPP owned about $1.5 billion worth of shares in 68 corporations supplying Israel with military, police, surveillance and prison-related products.

To read COAT's research on the first half of
these 68 companies, click the pdf links below
to see the print version of Issue 66.  Or, click
each company name for the web version.)
(Articles on the second set of 34 companies
are in Issue #67 of Press for Conversion!):

pdf  3M Co
Amdocs Ltd
pdf  Analog Devices Inc

pdf  AT&T
pdf  BAE Systems
pdf  Bank Hapoalim
pdf  Bezeq
pdf  Bharat Electronics Ltd
pdf  CAE Inc
pdf  Carlyle Group
pdf  Caterpillar Inc
pdf  Cellcom Israel
pdf  Cemex
pdf  Cisco Systems
pdf  CRH plc
pdf  Daewoo Engineering & Construction
pdf  Daimler AG
pdf  Delek Group
pdf  Dell Inc
pdf  Discount Investment Corp
pdf  Doosan Corp
pdf  Eaton Corp
pdf  Elbit Systems
pdf  EMC Corp
pdf  Evraz Group
pdf  Fiat Industrial
pdf  Fiat SpA
pdf  Finmeccanica
pdf  Fujitsu Ltd
pdf  Hewlett-Packard Co
pdf  Hitachi Ltd
pdf  Honeywell International
pdf  Hyundai Motor Co
pdf  Hyundai Heavy Industries

Additional resources from this issue:
Israeli Spy Companies:
Verint and Narus

State-owned Israeli War Industries:
, IMI and Rafael

Vertex Venture Capital:
Investing in Israeli High-Tech Companies

Table listing CPP Investments


Table listing CPP Investments worth $1.5 billion in 66 companies supporting Israel's military, police, surveillance, prison-industrial complex.

Table listing additional investments totalling $4.5 billion by six large Canadian pension funds (including CPP) in the 66 companies researched by COAT.

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2010 Form 10-K, Hitachi

Sam Kestenbaum, "In between laws: Palestinian workers strike at Salit Quarry," Aug. 4, 2011.

Hitachi Data Systems examining Israeli acquisitions, September 24, 2002.

Department of Defense to use Voltaire Grid Backbone; Solutions in HP Supercomputer for Weapons Systems Design, November 1, 2005.

Israel-Japan Business Relations - 2002

"HP and Oracle choose Voltaireís switches," Globes, September 25, 2008.

"Magic, Hitachi Software negotiating comprehensive strategic agreement," Globes, April 13, 2005.

Magic Software Announces Deal with Israel Defence Forces, June 9, 2010.

"Hitachi Forms Partnership with XACCT Technologies in Japan," July 22, 2002.

Dion Wiggins, "Big Brother ó Real-Time Behavioral Monitoring," January 9, 2002.

Ido Alon, "Amdocs to buy XACCT for $30 million," December 22, 2003.