Berkshire Hathaway has upped its stake in iconic Japanese trading houses, according to an interview boss Warren Buffett gave the Nikkei newspaper on Tuesday. He has been steadily increasing his exposure in the country since his investment firm disclosed 5% positions in Itochu , Marubeni , Sumitomo Corp , Mitsubishi Corp and Mitsui & Co in August 2020, taking advantage of the country’s ultra-low interest rates. Refinitiv data shows Berkshire has nearly $8 billion worth of yen bonds outstanding with an average coupon of 1%.
in August 2020, taking advantage of the country’s ultra-low interest rates. Refinitiv data shows Berkshire has nearly $8 billion worth of yen bonds outstanding with an average coupon of 1%.
Worries that the nonagenarian was walking into Japan’s infamous “value trap” now look overwrought. The rise in global interest rates and the popping of the tech bubble have pushed funds back into the boring nuts and bolts companies Buffett loves.
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