Warren Buffett's Berkshire Hathaway has raised its stakes in Japan’s 5 major trading houses to 7.4%, BeckyQuick reports.
Buffett told Nikkei that he is planning to meet with the companies later in the week "to really just have a discussion around their businesses and emphasize our support," according to the report.
Japan's five largest trading companies — known as sogo shosha — are conglomerates that import everything from energy and metals to food and textiles into resource-scarce Japan. They also provide services to manufacturers. The trading houses have helped grow the Japanese economy and contributed to the globalization of its business.
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