The logo of American multinational investing conglomerate Berkshire Hathaway is displayed on a smartphone screen.
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Berkshire Hathaway on Monday said its wholly-owned subsidiary National Indemnity Company has increased its stake in five Japanese trading firms to average more than 8.5%.
The companies involved are Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo. The aggregate value of these interests surpasses that of Berkshire-held stock in any country outside of the U.S., the firm said.
Berkshire Hathaway said it intends to hold its Japanese investments for the long term, with CEO Warren Buffett pledging the company will only purchase up to 9.9% of any of the five firms.
It owns no other investments in Japan.
This is a developing story and will be updated shortly.
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