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31.08.2020

Berkshire Hathaway takes stakes in Japan's top five trading companies

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The company said it has acquired slightly more than 5% of the shares in five large Japanese companies

Stocks impacted: Berkshire Hathaway Inc (BRK.A)

Berkshire said it acquired its stakes in Itochu, Marubeni, Mitsubishi, Mitsui & Co and Sumitomo over approximately 12 months. The five firms— Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo — are known as "sogo shosha," or "general trading companies," in Japan. The investments were valued at more than $6 billion combined after shares of all five companies jumped in Tokyo trading on Monday. Berkshire said that it bought the holdings over the last year through regular purchases on the Tokyo Stock Exchange. Berkshire Class A shares closed 0.54% higher at $327,431 on Friday.

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