Buffett boosts stakes in Japanese trading houses, may invest more

Apr 12, 2023 | News On Japan

Apr 12, 2023 (Reuters) - Warren Buffett's Berkshire Hathaway Inc has increased its stakes in Japan's five largest trading houses to 7.4%, and the billionaire investor said he may invest more in the country.

Buffett, 92, said in an interview with Nikkei that he was "very proud" of the investments and would meet with the trading houses this week to discuss their businesses, perhaps laying the groundwork for doing business together.

The trading houses are Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co and Sumitomo Corp.

Their shares rose 2.1% to 4.6% in Tokyo on Tuesday following the Nikkei interview.

Berkshire had disclosed owning 5% stakes in each company in August 2020 on Buffett's 90th birthday, in investments then worth more than $6 billion. It reported increasing the stakes to more than 6% in November. ...continue reading

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