Warren Buffett’s Japan Bet Just Crossed a Line as Berkshire Tops 10% in Sumitomo and Marubeni
Berkshire Hathaway increased its voting stakes in both Sumitomo Corp and Marubeni to over 10%, doubling down on its investment in Japanese trading companies. The move comes just days after new Chief Executive Greg Abel assured shareholders the U.S. conglomerate would take a patient approach with its capital. According to Sumitomo, Berkshire’s National Indemnity bumped its voting stake to 10.05% as of May 7, rising from 9.30% on March 10. Over at Marubeni, the same Berkshire insurer reached 10.10% as of May 6, an increase from 9.32%. That pushed National Indemnity into major shareholder territory—now the company’s biggest.