Warren Buffett unveiled plans to increase Berkshire Hathaway's stakes in Japan's top five trading houses, the company's chief executive officer said in his annual letter to the company's shareholders.
Berkshire has been investing in Itochu (TYO:8001), Mitsubishi Corp. (TYO:8058), Mitsui & Co.(TYO:8031), Sumitomo(TYO:8053), and Marubeni(TYO:8002), since 2019, with combined holdings valued at $23.5 billion by the end of 2024.
Berkshire initially agreed to keep its stakes in each trading house below 10%, but as they neared this limit, the companies allowed a slight increase for further investment, Buffett said in the letter.
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