Berkshire Set to Gradually Raise Stakes in Japan Trading Houses

Berkshire Hathaway Inc. is looking to increase ownership in Japan’s five largest trading houses “over time,” Warren Buffett said in an annual letter to shareholders that is likely to support their share prices in Tokyo.

The Omaha, Nebraska-based conglomerate had originally agreed to keep its holdings in the companies below 10%. But the trading houses have agreed to relax the ceiling “moderately” as Berkshire approaches the limit, according to the letter dated Saturday.

The shares of the five — Mitsubishi Corp., Mitsui & Co., Itochu Corp., Sumitomo Corp. and Marubeni Corp. — have benefited over the longer-term ...