Berkshire buys stakes in Japanese trading companies
Warren Buffett’s firm acquired about 5% in Itochu, Marubeni, Mitsubishi, Mitsui & Co and Sumitomo over the past twelve months
31 August 2020 - 08:13
New York/Singapore — Warren Buffett’s Berkshire Hathaway bought stakes in five of Japan’s biggest trading companies, adding to the billionaire investor’s wager on the commodities sector and marking one of his largest-yet forays into Asia’s second-largest economy.
Berkshire acquired the stakes of about 5% in Itochu, Marubeni, Mitsubishi, Mitsui & Co and Sumitomo over the past twelve months, the US conglomerate said. The investments were valued at more than $6bn combined after shares of all five companies jumped at least 5% in Tokyo trading on Monday...
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