Buffett Acquires 5% Stake In Japan’s Five Largest Trading Companies 

Buffett Acquires 5% Stake In Japan’s Five Largest Trading Companies

The Berkshire Hathaway announced that it had gained more than 5% shares of the top five largest trading Japanese firms,

In a declaration on Sunday (90th birthday of Buffett) Berkshire added that it took shares in Marubeni Corporation (8002: T), Itochu Corporation (8001: T), Mitsui and Corporation Limited (8031: T), Mitsubishi Corporation (8058: T) and Sumitomo Corporation (8053: T) for approximately one year.

He further continued that it plans to hold this investment for an extended period, and may increase its shares to 9.9%. A National Indemnity corporation (Berkshire insurance firm) is holding the stakes.

As on Friday’s close the five firm’s 5% shares taken together estimated the worth of 4.65 billion pounds or 655 billion yen, according to the calculation by Reuters (using Refinitiv data).

The stocks in the house of trading on Monday skipped 11% in the initial Tokyo market, exceeding a 1.5% surge on wider TOPX or TOPIX stock price index.

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