Astel
Parent Company: Nitto Denko Corporation
Activity
Manufacturing of tape varieties
Reason for Boycott
Founded in 1976, the domestic Astel brand, which became a giant in the Turkish packaging tape market under Bento Bantçılık, was fully acquired in 2012 by the Japan-based multinational materials giant Nitto Denko Corporation. Following this acquisition, the company rebranded as "Nitto Bento," and its production facilities in Istanbul (Esenyurt) transitioned completely under Japanese capital control. What firmly locks the brand into the "Strict Boycott" status on our platform is the international share and partnership structure of its parent company, Nitto Denko (Tokyo Stock Exchange: 6988). Nitto Denko is deeply embedded in the strategic playground of global risk funds. An analysis of current corporate financial reports reveals that BlackRock Inc., one of the world's largest venture capital groups known for systematically funding occupation policies and exploitation networks, holds a massive 9.63% (majority) stake in the company. Furthermore, Vanguard Capital Management, another major financier of occupation, holds a 4% institutional share in the company. Although Astel Tape products are manufactured locally in Turkey, 100% of the net profit from every sale flows to the main treasury in Japan (Nitto Denko). Exploitation giants like BlackRock and Vanguard take a direct cut from this profit pool as shareholders. Due to this heavy financial siege by global risk funds, the brand is on the red list.
