Billionaire investor Warren Buffett has set his sights on the far east to put his money to work.
What Happened: Buffett, who runs the investment holding company, Berkshire Hathaway (NYSE:BRK) (NYSE:BRK), is “very proud” of his investments in Japanese stocks, the billionaire told in an interview with Nikkei.
Berkshire in Aug. 2020 picked up more than 5% stake in each of Japan’s five trading houses, namely Itochu Corp. (OTC:ITOCY), Mitsubishi Corp. (OTC:MSBHF), Mitsui & Co., Ltd (OTC:MITSY), Sumitomo Corp. (OTC:SSUMY) and Marubeni Corp. (OTC:MARUY), the report said.
He then went on to augment the stakes in Nov. 2022, it added.
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The “Oracle of Omaha” reportedly said he would meet with these companies this week to have a discussion about their businesses and emphasize his support.
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Why It’s Important: Buffett is a proponent of value investment – a strategy of picking up businesses at a discount to their intrinsic value. Berkshire’s top holdings include Apple, Inc. (NASDAQ:AAPL) and Coca-Cola Company (NYSE:KO), among others. The company has recently been building a position in the upstream oil and gas company Occidental Petroleum Corp (NYSE:OXY).
Buffett’s Berkshire has also invested in other Asian companies such as BYD Company Limited (OTC:BYDDY) (OTC:BYDDY).
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This article Warren Buffett ‘Very Proud’ Of Japanese Investments: 5 Tokyo-Listed Stocks Berkshire Has Stakes In originally appeared on Benzinga.com