News On Japan
Business

Buffett boosts stakes in Japanese trading houses, may invest more

Apr 12 (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

News On Japan
POPULAR NEWS

Zao’s Snow Monsters Face Extinction

Zao’s iconic snow monsters, the frost-covered trees known as 'juhyo,' face an existential threat. These towering, snow-laden trees have long been a winter highlight in the region, famously resembling monstrous figures covered in snow. However, their survival is now under severe threat.

Japan Ranks 92nd in English Proficiency, Lowest in History

EF Education First, a global education organization, published this year’s English Proficiency Index on Wednesday, ranking nations worldwide. Japan’s ranking stood at 92nd among 116 countries and regions, continuing a 14-year trend of record lows.

Famed Hot Spring Struggles to Handle Visitor Surge

Ginzan Hot Springs in Yamagata, known for its Taisho-era charm, is now at peak season for autumn foliage. While this secluded onsen town is a well-known destination in the Tohoku region, an influx of foreign tourists has led local officials to implement restrictions on day visitors starting next month.

Convenience Stores to Start Selling Over-the-Counter Drugs

Japan's Ministry of Health, Labour and Welfare has announced plans to allow the sale of over-the-counter drugs at convenience stores without on-site pharmacists.

Japan Looks to Limit Continuous Work

Japan's Ministry of Health, Labour and Welfare's advisory panel has outlined a proposal for amending the law to prohibit working more than 14 consecutive days. Under the current system, workers can technically work up to 48 days in a row through a system known as 'four-day-off-per-four-weeks,' while labor agreements also allow for holiday work, meaning there are no effective restrictions on consecutive workdays.

MEDIA CHANNELS
         
MORE Business NEWS

Japan's GDP grows for second successive quarter

New government data show Japan's GDP grew for the second consecutive quarter in the three months through September. (NHK)

Uber Eats Starts Nighttime Robot Deliveries in Osaka

Uber Eats, a major online delivery service, announced on the 13th that it will begin robotic deliveries in select areas of Osaka starting on October 14th. This service, utilizing AI-driven autonomous robots, aims to address the ongoing delivery labor shortage.

Rakuten Posts First Operating Profit Since Mobile Launch

Rakuten Group reported an operating profit of 500 million yen for the quarter from July to September, marking a sharp turnaround from last year’s 54.4 billion yen loss and achieving its first quarterly profit in nearly four years.

Seven & i gets buyout proposal from new bidder

Seven & i Holdings says it has received a buyout proposal from a company linked to the founder of its Ito-Yokado supermarket chain. (NHK)

Convenience Stores to Start Selling Over-the-Counter Drugs

Japan's Ministry of Health, Labour and Welfare has announced plans to allow the sale of over-the-counter drugs at convenience stores without on-site pharmacists.

Japan Publishing Giant Penalized for Cutting Freelancer Fees

Japan's Fair Trade Commission has issued a recommendation to publishing giant KADOKAWA and its subsidiary, citing violations of the Subcontract Act over 'unjust price cutting' practices involving compensation paid to freelance writers and photographers.

Japan Looks to Limit Continuous Work

Japan's Ministry of Health, Labour and Welfare's advisory panel has outlined a proposal for amending the law to prohibit working more than 14 consecutive days. Under the current system, workers can technically work up to 48 days in a row through a system known as 'four-day-off-per-four-weeks,' while labor agreements also allow for holiday work, meaning there are no effective restrictions on consecutive workdays.

Fender Teams Up with Hello Kitty for Special Guitar Line

Renowned guitar brand Fender has partnered with the beloved character Hello Kitty in a new collaboration.