Billionaire Warren Buffett has revealed that its subsidiary National Indemnity has increased its holdings in five Japanese traded companies to an average of 8.5 percent: Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo.
Berkshire Hathaway intends to retain its Japanese investments for the long term, amid Buffett's pledges that the company will buy a maximum of only 9.9 percent of those companies' shares. The total value of those holdings is higher than Berkshire Hathaway's holdings in any other country outside the U.S.
Buffett visited Japan in April and announced that Berkshire Hathaway would boost its investment in various Japanese trading companies to 7.4 percent after identifying the five companies as entities similar to his own.
Source (CNBC Arabic Website, Edited)
