Buffett’s Fund Buys into 5 Major Japan Trading Houses


New York, Aug. 30 (Jiji Press)--Berkshire Hathaway Inc., led by prominent U.S. investor Warren Buffett, said Sunday it has acquired a stake of slightly more than 5 pct each in five leading Japanese trading houses.

It is rare for Buffett to invest in Japanese companies. The investment fund obtained the stakes in Itochu Corp. <8001>, Marubeni Corp. <8002>, Mitsubishi Corp. <8058>, Mitsui & Co. <8031> and Sumitomo Corp. <8053> via a subsidiary “over a period of approximately 12 months through regular purchases on the Tokyo Stock Exchange,” it said.

Berkshire Hathaway said it may increase its holdings to “up to a maximum of 9.9 pct in any” of the five firms depending on prices.

Based on Friday’s closing prices of the five firms’ stocks on the TSE, Berkshire Hathaway’s total investment in the companies totals over 650 billion yen.

The fund showed its intention to hold the stakes for a long period, noting, for example, that it has held major stakes in U.S. beverage giant Coca-Cola for 32 years and in multinational financial service firm American Express for 29 years.

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Jiji Press