Berkshire to Keep Japanese Trading House Stakes After Buffett’s Exit

U.S. investment firm Berkshire Hathaway Inc. plans to retain its holdings in five major Japanese trading houses over the long term, even after the departure of CEO Warren Buffett, Jiji Press reported.

Berkshire first disclosed its investments in the five trading houses in 2020 and has since gradually increased its stakes in the aforementioned. (Photo: Preserve Omaha Facebook)

The five companies are Mitsubishi Corp., Mitsui & Co., Sumitomo Corp., Marubeni Corp. and Itochu Corp. Buffett has praised the firms for their highly diversified business models, which span sectors including food and energy.

Greg Abel, who has been involved in the investments as Berkshire’s vice chairman, will maintain Buffett’s long-term strategy after assuming the role of chief executive.

Berkshire first disclosed its investments in the five trading houses in 2020 and has since gradually increased its stakes to more than 10% in Mitsubishi and Mitsui, over 9% in Sumitomo and Marubeni, and more than 8% in Itochu.