Shares in Japan's largest trading houses rally after Buffett’s Berkshire hikes stake

Shares of the largest Japanese trading houses surged after Warren Buffet’s Berkshire Hathaway increased its stakes in Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo by over 1 percentage point each, holding between 8.5% and 9.8% in each company. This move, revealed in a regulatory filing on Monday, caused stock prices to rise by at least 4% for all five companies. Buffett previously expressed his plans to boost ownership in Japanese stocks, particularly in the top five trading houses, with Berkshire’s Japanese holdings reaching $23.5 billion by the end of 2024.

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