Warren Buffett’s Berkshire Hathaway buys stakes in 5 Japanese investment companies

Warren Buffett’s Berkshire Hathaway buys stakes in 5 Japanese investment companies

Warren Buffett’s Berkshire Hathaway Inc. took stakes of slightly more than 5% in five of Japan’s most venerable corporate names with big investments in energy.

Berkshire disclosed the investments in Mitsubishi Corp., Mitsui & Co., Sumitomo Corp, Itochu Corp. and Marubeni Corp. just before the Tokyo stock market opened Monday.

Shares in the five companies surged at least 5% and in some cases more than 10%, helping drive the overall Nikkei Stock Average up 2% in intraday trading Monday. Berkshire didn’t say how much it spent to acquire the stakes. Based on the companies’ Friday closing prices, a 5% stake in each would collectively be worth about $6 billion.

The five are often called trading companies, but investment company might be a more precise description. All have stakes in a variety of businesses including interests in energy and mining. Mitsubishi and Itochu each control a major convenience-store chain in Japan.

“I am delighted to have Berkshire Hathaway participate in the future of Japan and the five companies we have chosen for investment,” said Buffett in a statement. He said the five companies “have many joint ventures throughout the world and are likely to have more of these partnerships.”

Marketwatch

დატოვე კომენტარი

დაამატე კომენტარი

თქვენი ელფოსტის მისამართი გამოქვეყნებული არ იყო. აუცილებელი ველები მონიშნულია *