Buffett has grown fonder of his favorite Japanese trading houses, hiking his already-large investments and teasing of more to come.
Warren Buffett has grown even fonder of his favorite Japanese trading houses, hiking his already-large investments and teasing of more to come. Berkshire Hathaway raised its stakes in five Japanese trading houses — Mitsubishi Corp. , Mitsui & Co ., Itochu Corp. , Marubeni and Sumitomo — all to 7.4%. The 92-year-old investor even traveled to Japan this week, his first time in more than 11 years, to meet with the heads at these firms to emphasize his support, Nikkei reported.
Berkshire said in 2020 he planned to hold the investments for the long term, and that he might increase the positions in any of the companies up to a maximum of 9.9% , depending on price. The Japanese trading firms, also known as sogo shosha, are highly diversified companies involved in a wide range of products and services, including energy, machinery, chemicals, food, finance and banking. They have been vital to the Japanese economy and global trade since they emerged in the post-WWII period.
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