Warren Buffett's 90th Birthday, Acquires Stake in Japan's Top 5 General Trading Companies

Acquired Over 5% Stake Each Month for 12 Months... "Expect Mutual Benefits"
"Will Not Exceed 9.9% Stake Without Board Approval"

Warren Buffett, Chairman of Berkshire Hathaway
[Photo by EPA Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Warren Buffett, the 'investment genius' and chairman of Berkshire Hathaway, who recently celebrated his 90th birthday, has expanded his overseas investments by acquiring stakes in Japan's five major general trading companies.

According to Bloomberg and other sources on the 30th (local time), Berkshire Hathaway announced that it had acquired more than 5% stakes each in Japan's five major general trading companies: Itochu Corporation, Marubeni, Mitsubishi Corporation, Mitsui & Co., and Sumitomo Corporation. Berkshire Hathaway explained that it had been regularly purchasing shares on the Tokyo Stock Exchange over the past 12 months. CNBC reported that the total purchase amount, based on stock prices as of the 28th, was approximately $6.25 billion (about 7.4 trillion KRW).

The companies in which Buffett acquired stakes are all leading Japanese trading firms. In a statement, Buffett said, "Berkshire Hathaway is pleased to be involved in the future of Japan and these five companies. The five major trading companies have numerous joint ventures worldwide and are expected to form more partnerships." He added, "I look forward to opportunities for mutual benefit in the future," explaining his investment rationale.

Bloomberg noted that Buffett's investment marks a significant move abroad for his company, which has traditionally invested in American companies including Apple and Coca-Cola. It also explained that Berkshire Hathaway has been exploring equity investments in BYD, China's largest electric vehicle company, and StoneCo, a Brazilian electronic payment company.

Berkshire Hathaway plans to maintain its Japanese investments long-term and stated that it will not acquire more than 9.9% stakes in each of the five trading companies unless their boards agree. The investment announcement was made on Buffett's 90th birthday. Following the news of Buffett's stake acquisition, the stock prices of the five companies have risen by approximately 5 to 10%.

This content was produced with the assistance of AI translation services.