Warren Buffett's Berkshire Buys 5% Stake Each In Japan's 5 Largest 'Sogo Shosha'

BRK-A) (NYSE: BRK-B) late Sunday announced it has purchased passive stakes in five of the largest Japanese trading companies.

ITOCY), Marubeni Corporation (OTC: MARUY), Mitsubishi Corporation (OTC: MSBHY), Mitsui & Co. Ltd. (OTC: MITSY), and Sumitomo Corp. (OTC: SSUMF).

Berkshire said it has acquired a 5% stake in each of the five companies. The Omaha-based company pledged that, while it intended to hold these investments long term, it wouldn’t have ownership above 9.99% in any of the Sogo Shosha at any point in the future.

“The five major trading companies have many joint ventures throughout the world and are likely to have more of these partnerships,” Buffett said in a statement.

“I hope that in the future there may be opportunities of mutual benefit.”

Bloomberg, the investments, made through subsidiary National Indemnity, are worth above $6 billion.

said that “never bet against America,” as earlier noted by analyst Quoth the Raven.

AAPL) and Bank of America Corp. (NYSE: BAC) as some of his biggest holdings.

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