Warren Buffett Raises Stake in Five Japanese Trading Houses
- Berkshire boosted average investment to over 8.5% in the firms
- This follows a successful trip to Tokyo to meet the traders
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Berkshire Hathaway Inc. raised its stake in five of Japan’s trading houses to an average of over 8.5%, in a move to double down on some of Warren Buffett’s favorite stocks.
Berkshire holds stakes in Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co., and Sumitomo Corp., the US insurer said in a release on Monday. Buffett, the chairman of Berkshire, said in April that the firm would boost stakes in the Japanese companies, prompting their stock prices to rise to record highs.