Buffett says Berkshire will continue to increase investment in Japan trading houses
1. Berkshire plans to raise its Japanese trading house holdings beyond the 10% cap. Strategy emphasizes long-term commitment. 2. Portfolio includes Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo. Valuation stands at $23.5B with a $13.8B cost basis. 3. Berkshire sold Japanese debt to fund share purchases, supporting a yen-balanced, currency-neutral strategy. This move mitigates foreign exchange risks. 4. Annual dividend income from these positions is projected at around $812M. Despite recent declines in the trading houses, the investment is maintained for decades.