General News

Weed Is Super Illegal in Japan, but Its Government Is Investing in Weed Stocks

weed, Japan, drugs, stocks, money

The world’s largest authorities pension fund has thousands and thousands invested in weed shares. Images: Mladen ANTONOV / AFP (left); Kazuhiro NOGI / AFP


Japan has a number of the strictest drug legal guidelines on the earth.


Right here, weed possession can land you as much as 5 years in jail, the identical jail sentence you’d get if you happen to had been responsible of intermediating little one prostitution. Celebrities have needed to “retire” from present enterprise on accounts of possession: in September, fashionable actor Yusuke Iseya was arrested for having 20.three grams of hashish in his residence—roughly what Snoop Dogg smokes in a day—and has disappeared from public view.


However regardless of Japan’s place on hashish, monetary disclosures from the nation’s Authorities Pension Funding Fund (GPIF), the world’s largest pension fund, present that it held about $80 million in stakes of weed corporations final 12 months, based on Bloomberg.


The GPIF is a prime shareholder in Cover Development, a publicly-traded Canadian hashish firm, holding a stake value greater than $50 million. Some $17 million was invested within the Cronos Group, a Toronto firm that owns pot manufacturers like Spinach and Pleased Dance.


The GPIF, which made the disclosures final summer time, declined to touch upon whether or not it nonetheless owns the shares, Bloomberg reported. It additionally mentioned that the fund doesn’t straight choose a inventory to purchase, however principally by monitoring fairness indexes. The $80 million funding makes up 0.005 % of GPIF’s $1.6 trillion whole property.


Japan’s strict hashish management has dominated a lot of the nation’s notion of marijuana. Typically labelled as a “gateway” drug, weed has not moved previous its categorization as extremely harmful regardless of a world development to calm down regulation and discover its medical use.


Marijuana JP, an organization that compiles marijuana information in Japan, mentioned it’s frequent for Japanese ministries to “help seemingly contradicting insurance policies.”


However, a spokesperson for the corporate mentioned, the funding in hashish is a “constructive factor.”


The inclusion of weed corporations within the Japanese pension fund’s portfolio displays the worldwide rise of the authorized marijuana trade. Conventional inventory market indices such because the Nasdaq have added extra weed growers as extra international locations have legalized the usage of the plant for medical and leisure functions.


Weed continues to be unlawful in a lot of Asia and possession alone usually carries heavy penalties or prolonged jail time. In 2018, Thailand turned the primary nation in Southeast Asia to legalize medical marijuana. South Korea legalized medical hashish in the identical 12 months, the primary east Asian nation to take action.


Observe Hanako Montgomery on Twitter and Instagram.



By signing as much as the VICE publication you conform to obtain digital communications from VICE which will typically embody commercials or sponsored content material.


Source: Weed Is Super Illegal in Japan, but Its Government Is Investing in Weed Stocks

Related Articles

Back to top button