Buffett Endorses Japan Trading Firms in Letter, Boosting Shares

Berkshire owns about 9% in each of top five trading firms
Buffett will likely increase his stake in trading houses: Bito

Warren Buffett
Photographer: Houston Cofield/Bloomberg

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By Aya Wagatsuma

February 26, 2024 at 4:55 AM UTC

This article is for subscribers only.

Warren Buffett’s favorite Japanese trading houses climbed after he said in his letter to investors the companies follow shareholder-friendly policies that are “superior” to those practiced in the US.

Marubeni Corp. gained the most in four months, rising as much as 5.6% on Monday. The other four trading companies that Berkshire Hathaway Inc. holds — Mitsubishi Corp., Itochu Corp., Mitsui & Co., and Sumitomo Corp. — also rose, outperforming the broader market.