New York: U.S. investment firm Berkshire Hathaway Inc., led by renowned investor Warren Buffett, has raised each of its stakes in five major Japanese trading houses to about 9 percent, it was learned on Saturday.

This was revealed in Buffett’s annual letter to shareholders released on the day.

Buffett said each of the five Japanese companies–Mitsubishi Corp., Mitsui & Co., Sumitomo Corp., Marubeni Corp. and Itochu Corp.–“operates in a highly-diversified manner somewhat similar to the way Berkshire itself is run.”

According to a report submitted by a Berkshire subsidiary to the Japanese Finance Ministry’s Kanto Local Finance Bureau in June last year, Berkshire’s stakes in Mitsubishi, Mitsui, Sumitomo, and Marubeni were above 8 percent and below 9 percent, and its stake in Itochu was above 7 percent and below 8 percent.

Berkshire has indicated its intention to raise its stakes in the Japanese companies to as much as 9.9 percent, depending on their stock prices.

Berkshire’s investments in the companies are seen by some as a factor behind the Tokyo stock market’s recent bull run, which sent the benchmark Nikkei 225 stock average to an all-time high on Thursday.

JIJI Press