CTPCF - Why Buffett Bought Into Itochu Corp.
Warren Buffett has pulled the trigger on $6 billion of investments into Japan's five biggest trading houses or Sogo shosha. The FT described them as "century-old commodity specialists that are increasingly transforming into global venture capital and private equity businesses".
Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) holds the investments through subsidiary National Indemnity. Berkshire holds 5% stakes in each of the houses: Mitsubishi Corp. (OTCPK:MSBHF), Mitsui & Co. (OTCPK:MITSY), Itochu Corp. (OTCPK:ITOCF), Sumitomo Corp. (OTCPK:SSUMF) and Marubeni Corp. (OTCPK:MARUF).
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