Berkshire increased its stake in Japan's Mitsubishi to over 10%
Kyiv • UNN
Warren Buffett's Berkshire Hathaway increased its stakes in Mitsubishi Corp. and Mitsui & Co. This demonstrates confidence in the stability of these conglomerates and stimulates growth in their shares.
Warren Buffett's Berkshire Hathaway Inc. has strengthened its presence in the Japanese trading house Mitsubishi, increasing its stake to over 10% and demonstrating strategic confidence in the Japanese market. This is reported by Bloomberg, writes UNN.
Details
According to Mitsubishi, Berkshire's stake in the company increased to 10.23% based on voting rights, compared to 9.74% in March. Mitsui also confirmed the increase in the stake of Buffett, who is known as the "Oracle of Omaha". Berkshire first announced its investment in Japanese trading houses in 2020, and since then, the companies have shown a steady strengthening of financial performance and attention to profitability for shareholders.
We view this additional acquisition as a sign of the investor's continued confidence in our company. We will continue to strengthen our business portfolio
Berkshire Hathaway now holds stakes in Japan's five largest trading firms, including Marubeni, Itochu, and Sumitomo, which have diversified interests – from overseas oil and gas to fishing and retail. Following the investment announcement, Mitsubishi shares rose by 1.9%, Mitsui, Itochu, and Marubeni added about 1.2%, Sumitomo – 1.1%.
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Analysts note that Berkshire's presence draws attention to trading houses and stimulates their proactive policy to increase shareholder returns, particularly through share buybacks. Initially, the American investor planned to keep his stake below 10%, but Japanese companies allowed a "moderate exceeding of the ceiling"