Berkshire Set to Gradually Raise Stakes in Japan Trading Houses
- Buffett praises the companies in annual letter to shareholders
- The companies have agreed to raise 10% ceiling on holdings
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Berkshire Hathaway Inc. is looking to increase ownership in Japan’s five largest trading houses “over time,” Warren Buffett said in an annual letter to shareholders that is likely to support their share prices in Tokyo.
The Omaha, Nebraska-based conglomerate had originally agreed to keep its holdings in the companies below 10%. But the trading houses have agreed to relax the ceiling “moderately” as Berkshire approaches the limit, according to the letter dated Saturday.