I read this new today and I found it interesting!! What dream did he see to make such an investment I really wonder !!!
Warren Buffett announced on 31 August 2020 that Berkshire Hathaway has acquired more than 5% stake in each of the top five Japanese companies. The companies are Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co., and Sumitomo Corp.
Japanese groups with different objects of activity, import and process everything from energy and metals to food and textiles as Japan does not have natural resources. They also provide services to manufacturers.
This move is not short-term and is not based on quick profit, in fact it intends to maintain investments in the long run and increase its holdings in them up to 9.9%.
Berkshire has pledged not to make purchases beyond its 9.9% stake in any of the companies, unless approved by the companies' boards.
Buffett said he was pleased that Berkshire Hathaway was involved in Japan's future with this five companies that he chose to invest in, adding that these groups have many consortia around the world. Also he said "I hope that in the future there may be opportunities for mutual benefit" .
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