Warren Buffett's firm ups stakes in Japanese trading houses
Billionaire Warren Buffett's company has increased its investments in five major Japanese trading houses to give Berkshire Hathaway control of 7.4% of each of those conglomerates OMAHA, Neb. -- Billionaire Warren Buffett's company has increased its investments in five major Japanese trading houses to give Berkshire Hathaway control of 7.4% of each of those conglomerates. Buffett disclosed the new investments Tuesday in interviews with Nikkei and CNBC while he is vists Tokyo this week to meet with executives at the Japanese companies. Buffett said he is “very proud” of his investments in the trading houses that were first disclosed back in 2020. Shares of Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. and Sumitomo Corp. all surged after Buffett's new investments were reported. Those trading houses themselves are some of Japan’s oldest and biggest companies that each hold investments in a variety of industries and other companies. Their conglomerate busi...