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The move is line with Berkshire’s statement in 2020 that its investments in the Japanese trading houses were for the long term and the stakes could rise to 9.9%.
Berkshire’s stakes have increased to 6.59% from 5.04% in Mitsubishi Corp, to 6.62% from 5.03% in Mitsui & Co Ltd, to 6.21% from 5.02% in Itochu Corp, to 6.75% from 5.06% in Marubeni Corp and to 6.57% from 5.04% in Sumitomo Corp.
The news boosted shares of the five trading houses, led by Mitsubishi and Marubeni, which were up more than 2% in morning trade, while the benchmark Nikkei index was nearly flat.
Japanese regulatory rules require disclosure within five business days when an investor who owns more than 5% of a listed company raises or cuts a stake by 1 percentage point.
Berkshire’s increased investments in the trading houses come as it this month bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing, a rare significant foray into the technology sector by the conglomerate.
