Buffett-led Berkshire to increase stake in Japan’s five largest trading companies

over 8.5% on average

Berkshire Hathaway, a major US investment firm led by famous investor Warren Buffett, announced on the 19th that it has increased its stake in five major Japanese trading companies. Berkshire is currently the seventh largest listed company in the world by market capitalization.

Berkshire has invested in five major trading companies: Mitsubishi Corporation, Mitsui & Co., Itochu Corporation, Marubeni Corporation, and Sumitomo Corporation. Berkshire’s combined investment in the five companies is the largest of any publicly traded stock outside the United States.

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As previously reported, the company may increase its stake in any of the five companies to a maximum of 9.9%, but there are no plans to make any further investments without specific approval from the board of directors of the investees. . At the annual general meeting of shareholders in May, Mr. Buffett said, “We will continue to look for Japanese companies to invest in.” showed a good attitude.

All five stocks have risen more than 30% since the beginning of the year. The historically weak yen, strong dollar, and rising resource prices such as natural gas and crude oil also served as tailwinds for the increase in earnings of trading companies.

All five of the above companies are scheduled to hold annual shareholder meetings later this week.

The US stock market was closed on the 19th for the “Juneteenth” holiday.

Mitsui & Co.’s web3 business expansion

Regarding Mitsui & Co., Ltd., yesterday it was announced that they had concluded a memorandum of understanding regarding a capital and business alliance and a strategic partnership with Animoca Brands in Hong Kong as part of their advance into the web3 business.

connection：Mitsui & Co. announces capital and business alliance with web3 giant Animoka Brands

Regarding the alliance with Animoca, Mitsui & Co. said in a press release, “In addition to a wide range of business assets from consumer business to industrial business, we will utilize our partners and customer networks to create a new business that will contribute to the spread and innovation of web3 mainly in Japan. We aim to create business.”

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