Buffett’s Berkshire boosts stakes in Japan’s five biggest trading houses

Berkshire Hathaway CEO Warren Buffett, arrives to attend the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 5, 2022. REUTERS/Brendan McDermid

TOKYO  – Berkshire Hathaway Inc, run by billionaire Warren Buffett, has raised its stakes in each of Japan’s five biggest trading houses by more than 1 percentage point to more than 6 percent, according to its regulatory filings.

Berkshire’s stakes have increased to 6.59 percent from 5.04 percent in Mitsubishi Corp, to 6.62 percent from 5.03 percent in Mitsui & Co Ltd, to 6.21 percent from 5.02 percent in Itochu Corp, to 6.75 percent from 5.06 percent in Marubeni Corp and to 6.57 percent from 5.04 percent in Sumitomo Corp.

Berkshire said in 2020 that its investments in the Japanese trading houses were for the long term and the stakes could rise to 9.9 percent.