Buffett Boosts Stake in Japan Trading Companies as Shares Surge

Berkshire Hathaway Inc. raised its stake in five of Japan’s trading houses to an average of over 8.5%, in a move to double down on some of Warren Buffett’s favorite stocks.

Berkshire holds stakes in Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co., and Sumitomo Corp., the US insurer said in a release on Monday. Buffett, the chairman of Berkshire, said in April that the firm would boost stakes in the Japanese companies, prompting their stock prices to rise to record highs.

WATCH: Five of Japan’s trading houses rise after Berkshire Hathaway raised its stake in the firms to an average of over 8.5%. Winnie Hsu reports.

Source: Bloomberg

Buffett traveled to Japan in April to convene with executives from the trading firms for the ...