Billionaire investor Warren Buffett's Berkshire Hathaway is increasing its stakes in five Japanese trading houses. The total amount is now up to 7.4%.
Warren Buffett's Berkshire Hathaway has boosted its stakes in Japan's five largest trading houses to 7.4%.Those companies are Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co and Sumitomo Corp.
Berkshire has been increasing stakes in those companies starting on Buffett's 90th birthday in August 2020, when he disclosed owning 5% stakes in each company.At that time, the investments were worth more than $6 billion.Buffett, 92, said in an interview with Asian news outlet Nikkei that he was "very proud" of the investments and would meet with the trading houses this week to discuss their businesses.
"We would love it if any of the five would come to us ever and say, 'We're thinking of doing something very big, or we're about to buy something, and we would like a partner or whatever,'" Buffett said.Berkshire does not invest in otherThe companies trade in a wide variety of materials, products and food, often serving as intermediaries, and provide logistical support.The logo of Marubeni Corp is seen at the company headquarters in Tokyo, Japan.
Buffett's conglomerate owns dozens of businesses, including the BNSF railroad, Geico auto insurance, and consumer, energy and industrial companies, as well as stocks such as Apple, Occidental Petroleum and Bank of America.
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