Berkshire Hathaway increases its stakes in two Japanese trading houses
Berkshire Hathaway has increased its stakes in Sumitomo Corp. to 10.05% and Marubeni Corp. to 10.10%, raising its total holdings in five Japanese trading houses to over 10%. CEO Greg Abel stated that these investments are intended for the long term. Additionally, Berkshire announced plans to invest approximately $1.8 billion in Tokio Marine Holdings. Other Japanese companies in which Berkshire holds over 10% include Mitsubishi Corp., Itochu Corp., and Mitsui & Co. Ltd.
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