Multi-billionaire Warren Buffett and CEO of Berkshire Hathaway has taken stakes in Japan’s five largest trading houses, with a total value of more than $ 6.25 billion. These trading companies are: Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo.
Berkshire Hathaway now owns more than 5% of each of those trading houses. The holdings were built up over the past twelve months through purchases on the Tokyo stock exchange. They are long-term investments, Berkshire said. The stakes could possibly be increased to 9.9 percent, depending on price.
The trading houses are active with the import of raw materials such as oil and metal. They play an important role in providing Japan, the world’s 3rd largest economy, with the necessary raw materials.
The chairman and CEO of Berkshire Hathaway made the announced on his 90th birthday.
