New York Warren Buffett is always good for a surprise. The head of the Berkshire Hathaway conglomerate announced stakes in five Japanese companies on Sunday evening. Berkshire has a little more than five percent of the shares in the energy and raw materials traders Itochu, Marubeni, Mitsubishi, Mitsui & Co. and Sumitomo accepted.
The shares of the five Japanese companies rose by a good five percent in early trading on Monday. That makes Buffett’s shares worth around six billion dollars. The entry of the star investor is considered a seal of approval. Many investors are copying the strategy of the Berkshire boss, who until now has mainly invested in the USA.
“I’m very excited that Berkshire Hathaway will be part of Japan’s future,” said Buffett.
The trading companies have grown into conglomerates over the years, which in turn have interests in a number of other companies around the world “and are likely to expand these partnerships even further. I hope we have many opportunities in the future that will benefit both sides, ”Buffett clarified. What exactly he meant by that, he left open.
In addition to a large insurance division, Berkshire Hathaway also has an industrial and energy division. Around 90 medium-sized companies also belong to Buffett’s conglomerate, as well as a stock portfolio worth over $ 200 billion, with large holdings in corporations such as Apple, of the Bank of America and Coca Cola.
Buffett had largely restrained himself from buying stocks and companies during the corona crisis. In July, however, he announced that his energy division would take over gas pipelines from a competitor for around ten billion dollars.
The investments in Japan are said to be attributed to Berkshire’s insurance subsidiary National Indemnity. Buffett assured that he plans to hold the investments for a long time and even want to expand, up to a maximum of 9.9 percent of the shares.
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