Warren Buffett tells BeckyQuick he was “confounded” by the opportunity to buy into 5 Japanese trading houses 2 years ago.
chairman and CEO revealed this week that he had raised his stakes in each of the five major Japanese firms to 7.4%, and added that he may consider further investments. Buffett's trip to Japan is intended to show support to the companies.
"I just thought these were big companies. They were companies that I generally understood what they did. Somewhat similar to Berkshire in that they owned lots of different interests," Buffett said. "And they were selling at what I thought was a ridiculous price, particularly the price compared to the interest rates prevailing at that time."
"We would very much evaluate it quickly. Warren highlighted the bigger the better, and that he'll answer the phone on the first ring. And we'll never run out of money. They can call us anytime," said Abel.for his 90th birthday, in an initial purchase worth roughly $6 billion. The firms are Mitsubishi Corp., Mitsui & Co., Itochu Corp., Marubeni and Sumitomo.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warren Buffett may buy more Japanese stocks as Berkshire eyes yen bondsWarren Buffett's Berkshire Hathaway may issue bonds priced in yen, potentially signaling more Japanese stock buys
Read more »
Warren Buffett considering additional investment in Japanese stocks – NikkeiJapan’s media outlook, the Nikkei Asian Review, is citing that Warren Buffett is considering additional investment in Japanese stocks, per Reuters. Ad
Read more »
Japanese trading houses rise as Warren Buffett says he plans on buying moreBuffett said he was 'very proud' of these investments and that he plans to meet with the companies to emphasize Berkshire Hathaway's support.
Read more »
Japanese trading houses rise as Warren Buffett raises stakes and says he may buy moreBuffett said he was 'very proud' of these investments and that he plans to meet with the companies to emphasize Berkshire Hathaway's support.
Read more »
Buffett says he holds 7.4% stake in five Japanese trading houses, including Itochu, Nikkei reportsBerkshire Hathaway Inc's Warren Buffett is considering additional investment in Japanese stocks and said he holds a 7.4% stake in each of five Japanese trading houses, including Itochu Corp , the Nikkei reported on Tuesday.
Read more »
Buffett says he holds 7.4% stake in five Japanese trading houses, including Itochu-Nikkei By Reuters*WARREN BUFFETT SAYS HE HOLDS 7.4% STAKE IN FIVE JAPANESE TRADING HOUSES, INCLUDING ITOCHU - NIKKEI 🇯🇵🇯🇵
Read more »