Warren Buffett, the CEO of Berkshire Hathaway, recently gave a strong endorsement to five Japanese trading houses. Buffett spoke at Berkshire’s annual shareholder meeting in Omaha, Nebraska, about a month after Berkshire raised its stakes in Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo to 9.8%. Berkshire’s investments in these companies totaled $23.5 billion at the end of 2024. Buffett said, “In the next 50 years, we won’t give a thought to selling those.” Greg Abel, a Berkshire vice chairman, added that he envisioned Berkshire owning the trading houses for 50 years “or forever.” Berkshire began investing in the trading houses in 2019 and revealed 5% ownership stakes on Buffett’s 90th birthday the following August. Buffett prefers to avoid businesses he does not understand and has likened the trading houses to his own conglomerate.
Reference : https://economictimes.indiatimes.com/markets/stocks/news/berkshire-endorses-japanese-trading-houses-could-hold-them-forever/articleshow/120852688.cms
