Warren Buffett’s firm ups stakes in Japanese trading houses

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Billionaire Warren Buffett’s company has increased its investments in five major Japanese trading houses to give Berkshire Hathaway control of 7.4% of each of those conglomerates. Buffett disclosed the new investments Tuesday in interviews with Nikkei and CNBC while he is visits Tokyo this week to meet with executives at the Japanese companies. Shares of Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. and Sumitomo Corp. all surged. Those trading houses themselves are some of Japan’s oldest and biggest companies that each hold investments in a variety of industries and other companies. Buffett said he would consider investing in other Japanese companies or partnering with one of the trading companies on a deal if they ever needed an investor.