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Warren Buffett doubles down on Japan, increasing stakes in five trading firms

Jun 19 (MSN) - Berkshire Hathaway on Monday said its wholly-owned subsidiary National Indemnity Company has increased its stake in five Japanese trading firms to average more than 8.5%.

The companies involved are Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo. The aggregate value of these interests surpasses that of Berkshire-held stock in any country outside of the U.S., the firm said.

Berkshire Hathaway said it intends to hold its Japanese investments for the long term, with CEO Warren Buffett pledging the company will only purchase up to 9.9% of any of the five firms.

The five firms are the largest of Japan's so-called sogo-shosha, or general trading companies, and focus on diversified long-term investments that prioritize value and cash flow. Traditionally, they have been central to imports of energy, minerals and food into Japan and exporters of finished products. ...continue reading

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