Warren Buffett only invests in what he knows, so his knowledge of Japanese trading houses must be rising as Berkshire Hathaway raises its stakes.
Buffett told Nikkei Asia Tuesday that he intends to add to his investments in Japanese stocks and that he is "very proud" of his current holdings.
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Berkshire Hathaway raised its stakes in Japanese trading houses Mitsubishi Corp., Mitsui & Co., Itochu Corp., Marubeni Corp. and Sumitomo Corp. to 7.4% each, CNBC reported.
That level is up from positions of about 6.5% for each holding.
"We're very proud of that," Buffett told Nikkei Asia while saying that he would meet with each of the companies this week in order to "really just have a discussion around their business and emphasize our support."
Japan has piqued the interest of the 92-year old Oracle of Omaha and Berkshire Hathaway has signaled that it is ready to invest more in the country after it said that it is planning to issue yen bonds for the first time since December 2022.
"We don't think it's impossible that we will partner with them [Japanese trading houses] at some point in the future in a specific deal," he said. "We would love if any of the five would come to us ever and say, 'We're thinking of doing something very big or we're about to buy something and we would like a partner or whatever.'"
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