| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Warren Buffet-led Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) late Sunday announced it has purchased passive stakes in five of the largest Japanese trading companies.
What Happened: The trading companies, referred to as “Sogo Shosha” in Japan, include Itochu Corporation (OTC:ITOCY), Marubeni Corporation (OTC:MARUY), Mitsubishi Corporation (OTC:MSBHY), Mitsui & Co. Ltd. (OTC:MITSY), and Sumitomo Corp. (ITC: 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,” CEO Buffet said in a statement.
“I hope that in the future there may be opportunities of mutual benefit.”
Why It Matters: According to data compiled by Bloomberg, the investments, made through subsidiary National Indemnity, are worth above $6 billion.
This also marks a rare push away from the United States companies for Buffet, who famously said that “never bet against America,” as earlier noted by analyst Quoth the Raven.
Buffet turned 90 years old on Sunday, and counts Apple Inc. (NASDAQ:AAPL) and Bank of America Corp. (NYSE:BAC) as some of his biggest holdings.
Price Action: Berkshire Class A shares closed 0.5% higher at $327,431 on Friday, and Class B shares closed 0.77% higher at $218.55.
Photo courtesy: freeimage4life via Flickr
Posted In: AAPL BAC BRK-A BRK-B BRK.A ITOCY MARUY MITSY MSBHY
