SSUMF - Warren Buffett boosts stakes in Japanese trading houses to over 8.5% each
2023-06-19 05:10:32 ET
- Warren Buffett's Berkshire Hathaway ( NYSE: BRK.A ) ( NYSE: BRK.B ) said Monday its unit National Indemnity raised its passive stakes in five Japanese trading companies to more than 8.5% each , excluding treasury stock.
- The trading houses are Itochu ( OTCPK:ITOCF ) ( OTCPK:ITOCY ), Marubeni ( OTCPK:MARUY ) ( OTCPK:MARUF ), Mitsubishi ( OTCPK:MSBHF ), Sumitomo ( OTCPK:SSUMF ) ( OTCPK:SSUMY ) and Mitsui ( OTCPK:MITSY ) ( OTCPK:MITSF ).
- Berkshire ( BRK.B ), which aims to hold its Japanese investments for the long term, may boost its stake up to a maximum of 9.9% in any of the five companies.
- However, Buffett pledged that Berkshire ( BRK.B ) will only buy shares to own a maximum of 9.9% stake in any of the five firms. Purchases beyond this will require approval by the investee's board.
- The total value of Berkshire's ( BRK.B ) investments in Japan exceeds its holdings in any other country outside the U.S.
- Two months earlier, the company had ramped up its ownership in the Japanese trading houses to 7.4%.
For further details see:
Warren Buffett boosts stakes in Japanese trading houses to over 8.5% each