Japan – Buffett’s Berkshire buys more

News overnight ICYMI confirmed Warren Buffett has bought even more in Japan. Buffett’s big buying spree of Japan’s trading houses began in August 2020 when Berkshire Hathaway revealed that it had acquired just over 5% stakes in five major Japanese trading firms:

  • Mitsubishi Corp.
  • Mitsui & Co.
  • Itochu Corp.
  • Sumitomo Corp.
  • Marubeni Corp.

Buffett’s move was seen as a major endorsement of Japan’s centuries-old sogo shosha (general trading houses), which operate diversified businesses across commodities, energy, industrial goods, and consumer products.

In April 2023, he increased Berkshire’s stakes to over 7% in each firm and hinted at the possibility of further investments. This was seen not only as an endorsement of the firms, but a move on the cheap yen. By November 2023, the stakes had risen further to around 9%.

On Monday, filings to Japan’s finance ministry showed Berkshire had raised its stakes in the above to an average holding of around 9.3%.

Source link

Get RawNews Daily

Stay informed with our RawNews daily newsletter email

Japan – Buffett’s Berkshire buys more

Omalizumab treats multi-food allergy better than oral immunotherapy

Trump provides update on pending return of astronauts Butch Wilmore, Suni Williams

Rob Parker Says Shedeur Sanders Has Reached ‘Unlikeable Status’