Buffett’s Berkshire Hathaway announced on Sunday local time that it has acquired more than 5% of each of Japan’s five largest trading companies .
Berkshire said that its wholly-owned subsidiary, National Indemnity Company, will report to the Kanto Local Finance Bureau its holdings in these five Japanese companies. The five companies are: ITOCHU, Marubeni, Mitsubishi, Mitsui & Co., and Sumitomo Corporation.
Berkshire said that it plans to hold shares in these five companies for a long time and may increase the shareholding of any of them to a maximum of 9.9% based on future stock prices.
Buffett himself said: “These five major trading companies have many joint ventures around the world, and there may be more such partnerships. I hope there may be opportunities for mutual benefit in the future.”
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