Warren Buffett Plans to Increase Stakes in Japanese Trading Houses
Warren Buffett has increased his stakes in five major Japanese trading houses and may increase them even further, contributing to a rise in their shares.
- Berkshire Hathaway has raised its stakes in all five major Japanese trading houses to 7.4%.
- Shares of Mitsubishi Corp. rose 2.08%, Mitsui & Co. gained 2.66%, Itochu Corp climbed 2.98%, Marubeni Corp. advanced 4.55%, and Sumitomo Corp. also rose 3.19%.
- Late last year, Berkshire Hathaway increased its positions in the five leading trading houses in Japan by at least 1 percentage point to more than 6% each.
- Buffett plans to meet with the companies later in the week to have a discussion around their businesses and emphasize their support.
- Japan’s five largest trading companies import everything from energy and metals to food and textiles into resource-scarce Japan and provide services to manufacturers.
- Berkshire Hathaway's latest bond issuance suggests that the conglomerate would increase its investments in Japan.