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MARUBENI CORP ADR

Marubeni is a general trading house, or sogo shosha, a type of conglomerate unique to Japan. Its core role is that of a trading intermediary in a variety of industrial sectors, including resources businesses such as energy and metals as well as nonresources businesses, both industrial ones like machinery and nonindustrial ones like food, real estate, and retail. In addition to acting as a trading intermediary (including midstream processing functions to convert inputs into final products), Marubeni also participates in upstream production businesses and downstream distribution businesses.

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Berkshire Hathaway amplía su apuesta por las firmas comerciales japonesas, impulsando sus acciones en la Bolsa de Tokio.

Las acciones de las principales firmas comerciales japonesas suben tras la apuesta de Warren Buffett

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Las acciones de las principales casas comerciales de Japón suben tras la señal positiva de Warren Buffett.

Warren Buffett respalda a Japón: Aumentan acciones de casas comerciales tras su declaración

Marubeni Corp

At what will be his <a href="https://www.benzinga.com/25/05/45187070/warren-buffett-retires-after-decades-of-dominancefrom-tim-cook-to-mark-cuban-worlds-top-business-leaders-react-to-the-investment-icons-exit">last annual meeting as CEO</a> of Berkshire Hathaway, Warren Buffett shared a story that succinctly demonstrated his unique ability to spot value in unexpected places, like a small Japanese handbook he could barely read.
What Happened: Buffett's famous journey with the <a href="https://www.benzinga.com/markets/bonds/25/05/45635713/warren-buffetts-cheap-debt-bet-on-these-japanese-stocks-is-minting-infinite-returns-fund-manager-calls-it-a-no-brainer">five Japanese trading houses</a> — Itochu, Marubeni, Mitsubishi Corp., Mitsui &amp; Co.and Sumitomo Corp. started not with a team of analysts or a visit to the country, but with a handbook detailing thousands of Japanese companies, <a href="https://www.cnbc.com/2025/05/26/what-you-may-have-missed-in-berkshires-last-annual-meeting-under-buffett.html">according </a>to CNBC. 
"I was just going through a little handbook that probably had 2,000 or 3,000 Japanese companies in it," he recalled. In it, he discovered a group of companies that caught his attention. "One problem I have is that I can't read that handbook anymore. The print's too small. And there were these five trading companies. They have a special name for them in Japan, but they were selling at ridiculously low prices. So I spent about a year acquiring them." 
Berkshire Hathaway now holds around 10% of each firm.
See Also: <a href="https://www.benzinga.com/general/education/25/05/45607543/warren-buffett-you-can-make-a-fortune-but-your-life-is-a-disaster-if-you-overlook-this-one-thing">Warren Buffett: You Can Make A Fortune, But &#8216;Your Life Is A Disaster&#8217; If You Overlook This One Thing</a>
Why It Matters: This handbook is the go-to source for Japan's everyday retail investors. Bloomberg <a href="https://www.bloomberg.com/opinion/articles/2025-05-12/buffett-s-little-japan-handbook-and-other-investing-lessons">reports</a> that it is known as the Kaisha Shikiho, a quarterly guide regarded locally as the "bible of Japanese equities." For about ¥2,800 (approximately $20), investors get a comprehensive, encyclopedia-style volume full of data on almost 4,000 publicly traded companies across Japan.
The English edition of the Handbook has even appeared on Buffett's desk more than ten years ago. But surprisingly, the publisher discontinued the English version last year.
Highlighting the value of the handbook, Buffett said: "If you get real opportunities every five or six years&#8230;, <a href="https://www.benzinga.com/general/education/25/05/45602754/warren-buffett-investment-success-3-simple-rules-to-copy-oracle-of-omaha">you have to be patient</a>." "Every now and then you get extraordinary opportunities, and most of the time you don't have much of an edge," he added.
Read Next: <a href="https://www.benzinga.com/tech/25/05/45661246/warren-buffett-loves-sees-candies-but-even-he-cant-get-the-brand-to-succeed-nationwide-heres-why">Warren Buffett Has Discovered There&#8217;s No Accounting For Tastes Through Berkshire&#8217;s Candy Company: &#8216;There Are All Kinds Of Crazy Things In The World That Consumers Do&#8217;</a>
Photo Courtesy: Photo Agency On Shutterstock

General

Warren Buffett Found Billions In A Tiny Japanese Guidebook He Could Barely Read — No Analysts, No Travel, Just Pure Instinct

Warren Buffett in 2020 got Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) to borrow yen at roughly 0.5 percent, bought five Japanese blue-chip trading houses paying total shareholder yields of 7-8 percent, and turned it into what investment fund manager Mohnish Pabrai describes as a &#8216;no-brainer&#8217; with &#8216;infinite return.&#8217;
What Happened: Warren Buffett marked his 90th birthday by quietly amassing just over 5 percent of each of Japan's five largest trading companies — Itochu (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), Marubeni (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>), Mitsubishi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MTSUY#OTC">MTSUY</a>), Mitsui &amp; Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>) and Sumitomo Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>) — a position worth about $6 billion when revealed on Aug. 31 2020.
A year earlier, Berkshire tapped Tokyo's bond market for 430 billion yen ($4 billion) at coupons ranging from 0.17 percent to 1.1 percent, locking in funding costs that averaged roughly 0.5 percent.
As explained by Pabrai in a recent <a href="https://www.youtube.com/watch?v=3xbhKOzNBW8">podcast</a>, at purchase, the five firms offered blended dividend yields near 5 percent and were buying back stock aggressively, pushing total shareholder yield toward 8 percent. On $6 billion of stock, that meant about $480 million a year in cash returns, versus approximately $30 million of interest expense on the yen loans. The spread delivered roughly $450 million of "carry" with almost no equity at risk.
See also: <a href="https://www.benzinga.com/news/25/05/45619523/neil-degrasse-tyson-says-cutting-science-and-education-funding-is-so-severe-if-a-foreign-power-did-it-wed-call-it-an-act-of-war">Neil deGrasse Tyson Says Cutting Science And Education Funding Is So Severe, If A Foreign Power Did It, We&#8217;d Call It &#8216;An Act Of War&#8217;</a>
Marubeni's New-York-listed ADR, for instance, closed 2020 at $66.81 and is currently at $195 according to Benzinga Pro data — well over a 190 percent gain. Similar moves across the other four houses doubled Berkshire's original stake to roughly $12 billion by late 2024, <a href="https://www.barrons.com/articles/berkshire-hathaway-warren-buffett-yen-carry-trade-93aa8239">according</a> to Barron's analysis.
Because virtually the entire position was funded with debt, Buffett's return on the sliver of equity he did commit is mathematically &#8220;infinite&#8221; — he recouped his capital via dividends long before the share-price moonshot.
Buffett told Nikkei TV last year he was "<a href="https://www.benzinga.com/markets/asia/23/04/31740469/warren-buffett-very-proud-of-japanese-investments-5-tokyo-listed-stocks-berkshire-has-stakes-in">very proud</a>" of the group's disciplined capital-return policies. <a href="https://www.benzinga.com/content/44493307/warren-buffett-thinks-this-country-could-be-the-next-big-bet">Trading houses trade</a> at single-digit price-earnings multiples against steady commodity-linked cash flows, a contrast to America's stretched valuations.
Photo Courtesy: Photo Agency On Shutterstock.com
Read next: <a href="https://www.benzinga.com/25/05/45616425/ray-dalio-slams-trumps-aggressive-leadership-style-likens-it-to-1930s-far-right-regimes-is-donald-trump-a-demagogue">Ray Dalio Slams Trump&#8217;s Leadership Style In New Book, Likens It To 1930s Far-Right Regimes: &#8216;&#8230;He Is Even More Aggressive Than They Were&#8217;</a>

Bonds

Warren Buffett's Cheap Debt Bet On These Japanese Stocks Is Minting 'Infinite Returns', Fund Manager Calls It A 'No-Brainer'

It took more than thirty years, but Japan may finally be on the cusp of a new economic era. After decades of deflation, stagnation, and demographic headwinds, the world&#8217;s third-largest economy is showing real signs of life.
If you&#8217;re still anchored to the &#8220;Lost Decade&#8221; narrative, it&#8217;s time to adjust your compass.
Start with the big picture: inflation in Japan is finally here, and that is a good thing. After years of trying to nudge price levels higher, the Bank of Japan has achieved something that once seemed impossible, a headline inflation rate over 3% and core-core inflation (which strips out food and energy) around 2.8%.
This is not runaway inflation. This is normalization. It is the end of a deflationary mindset that has kept consumers cautious and wages stagnant. Speaking of which, wages are now rising too, thanks to tight labor markets and a shrinking workforce that has finally given employees some bargaining power. Real wage growth is still lagging a bit, but the trajectory is right.
On the monetary policy front, the Bank of Japan made headlines in March 2024 by finally ending its negative interest rate policy. That marked the first rate hike in 17 years and the symbolic end of an era of extraordinary easing. It also marked Japan&#8217;s return to monetary policy normalcy. Gone is the yield curve control regime. In its place is a traditional rate targeting system like those used in the U.S. and Europe. Japan is no longer the outlier. It is rejoining the global financial mainstream.
Even the once anemic GDP growth rate is improving. In 2023, real GDP expanded by 1.9%, with Q4 2024 showing 1.1% year-over-year growth. That may not sound spectacular, but given Japan&#8217;s aging population and past headwinds, it&#8217;s more than respectable.
The trade deficit has also narrowed sharply, with record exports (particularly in autos) and a booming services surplus. Meanwhile, foreign investment income continues to pile up, pushing the current account solidly into surplus territory.
Then there&#8217;s the stock market. Japan&#8217;s equity market has finally caught fire. After languishing for over three decades below its 1989 high, the Nikkei 225 finally eclipsed that peak in 2024, closing in on 42,000 and leading the world in equity performance.
That move wasn&#8217;t driven by speculative mania, but by real earnings growth, aggressive share buybacks, and long-overdue reforms in corporate governance. The Tokyo Stock Exchange has pushed companies to raise ROE and address chronically low price-to-book ratios. Firms are responding. Cross-shareholdings are down, boards are becoming more independent, and management teams are starting to think more like owners.
Foreign investors are noticing too. Warren Buffett made headlines by boosting his stakes in Japan&#8217;s trading houses. Institutions across the globe are following suit, shifting exposure out of China and into Japan. The yen, once battered by interest rate differentials, is now finding its footing as the BoJ lifts off zero.
In KKR&#8217;s 2025 Outlook, they specifically highlight Japan as a key opportunity area: &#8220;We see opportunities in inter-company holdings. There is an accelerating unwind of Japanese strategic holdings within the corporate sector, encouraging a wave of stock buybacks. Additionally, we advocate for more active capital management, including backing companies transitioning from capital-heavy to capital-light models through Private Equity.&#8221;
A stable to strengthening yen, combined with structural reforms and a new era of pricing power, makes for a very interesting setup.
Look, Japan still has challenges. The population is shrinking, productivity growth could be stronger, and public debt remains sky-high. But for once, those aren&#8217;t the only parts of the story. Japan has exited the deflation trap. The stock market is not only alive but leading the pack. Policy is normalizing. Corporate governance is improving. Wages are moving. Investors are finally being rewarded.
Bottom line: Japan isn&#8217;t the basket case it used to be. It&#8217;s becoming a compelling story again—one that belongs in any serious global investor&#8217;s playbook. If you&#8217;re looking for value, reform, and upside, it might be time to look East. Japan is back in the game.
Okay. Melvin, we get it.
Can we move on now?
No.
No, we cannot.
There is every reason to believe that after 15 years of US markets flying high and long periods of Japan underperforming, we may see a reversal of fortune.
It is time to look outside the United States for high return opportunities.
Let&#8217;s start with the five trading companies Buffett has been buying and suggested last week that Berkshire will own for at least 50 years.
They are ITOCHU (Ticker: ITOCY), Marubeni (Ticker: MARUY), Mitsubishi (Ticker: MSBHF), Mitsui (Ticker: MTSFY), and Sumitomo (Ticker: SSUMY).
These companies are in a wide range of businesses including finance, energy, metals, machinery, chemicals, food, and textiles.
They are cheap based on both earnings and assets and have attractive dividend yields.
The other stock that seems like a layup from here is Kansai Electric (KAEPY). Kansai is the second largest industrial region of Japan and contains the metropolitan region of Osaka, Kobe, and Kyoto, which is the second largest in Japan.
Looking beyond the headlines, Kansai Electric Power stands as a textbook example of how traditional utilities can transform themselves into multi-dimensional businesses that weather economic cycles better than their one-trick-pony counterparts.
As Japan&#8217;s second-largest electric utility serving the industrial heartland of Osaka, Kyoto, and Kobe, Kansai Electric has been quietly building a business model that extends far beyond simply keeping the lights on. While Wall Street and financial media remain fixated on flashier tech names, real value investors understand that essential services with diversified revenue streams often deliver steadier returns.
Kansai operates through four distinct segments &#8211; energy, power transmission, IT/telecommunications, and lifestyle solutions &#8211; creating multiple paths to profitability regardless of economic conditions.
Their telecom operations under the &#8220;eo Hikari&#8221; brand and &#8220;mineo&#8221; mobile business represent the kind of steady cash flow businesses value investors prize.
What particularly catches my attention is their international expansion strategy. Unlike companies rushing into fashionable markets, Kansai made calculated moves, starting with hydro projects in the Philippines and recently taking a significant 49% stake in a German offshore wind project. This methodical approach to capital allocation, putting money to work in undervalued assets with predictable returns, is reminiscent of Buffett and Munger in their heyday.
On the energy technology front, they&#8217;re investing $7 billion to expand renewable capacity. Their research focuses on practical technologies like carbon capture, small modular reactors, and grid optimization. They are not chasing headline-grabbing moonshots that rarely deliver returns.
Perhaps most interesting is their hydrogen and ammonia strategy, targeting 30% of Japan&#8217;s hydrogen supply chain by 2050. While everyone else is busy chasing the latest AI startup, Kansai is quietly positioning itself in infrastructure that will be essential regardless of which way the technological winds blow.
Compared to US utility companies, shares of Kansai Electric are cheap. The stock is currently trading at 64% of tangible book value and less than 5 times free cash flow.
The yield is currently about 3%.
We are not done with Japan yet. There are still plenty of smaller cap companies that are worth exploring as we look for alternatives to the potential lost decade here in the US.

Opinion

MTSFY

Under the Radar: From Deflation to Dividend Machines — Japan's Market Turns a Corner

What began quietly years ago has grown into a defining long-term play for Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), as the company signals no intention of slowing down or reassessing its $20 billion bet on Japanese trading companies, amid a changing macro climate. 
What Happened: On Saturday, during Berkshire&#8217;s annual shareholder meeting, Warren Buffett addressed a question from the audience regarding the company's investments in Japan and his outlook on the same in light of a potential interest rate hike by the Bank of Japan.
Buffett said he was unfazed by the macro backdrop, stating, &#8220;I'll let the people of Japan determine their best course of action in terms of economics.&#8221; 
He then went on to reaffirm his confidence in the five Japanese trading companies, Mitsubishi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Marubeni (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>), Mitsui (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>), Sumitomo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) and Itouchi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), while expressing continued optimism about both their prospects and the broader Japanese economy.
See More: <a href="https://www.benzinga.com/news/25/05/45185944/warren-buffett-shares-surprising-advice-for-young-investors-and-its-not-about-stocks-who-you-associate-with-is-just-enormously-important">Warren Buffett Shares Surprising Advice for Young Investors—And It&#8217;s Not About Stocks: &#8216;Who You Associate With Is Just Enormously Important&#8217;</a>
Buffett noted that when he first acquired stakes in these trading houses six years ago, they were &#8220;selling at ridiculously low prices.&#8221; His conviction deepened over time, he added, as he got to know the companies and their leadership teams better.
&#8220;Japan's record has been extraordinary,&#8221; he said, pointing to the strong presence of several major American companies in the region, including several Berkshire holdings like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), and American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>).
Buffett added that &#8220;in the next 50 years, we won't give a thought to selling those [Japanese trading houses] positions,&#8221; underscoring not only his own long-term conviction but also that of Berkshire Vice Chairman, and his newly appointed successor, Greg Abel.
Abel followed up by saying, &#8220;It's been a very good investment, but we really envision holding the investment for 50 years or forever,&#8221; adding that he hopes to &#8220;do big things with them globally.&#8221;
Why It Matters: Early last month, Berkshire was preparing another round of yen-denominated bond issuance, reportedly aimed at <a href="https://www.benzinga.com/news/global/25/04/44601574/warren-doubles-down-on-japan-another-yen-bond-blitz-amid-growing-us-market-volatility">refinancing maturing debt</a> and increasing its stakes in its Japanese plays.
Former Vice Chairman Charlie Munger had described the investment as a &#8220;no-brainer,&#8221; pointing to Japan's <a href="https://benzinga.com/25/02/43441032/charlie-munger-praised-buffetts-20b-no-brainer-investment-in-japan-like-having-god-just-opening-a-chest-and-pouring-money-into-it">ultra-low borrowing rates</a>, around 0.50%, and the attractive dividend yields of over 5% offered by the trading houses. 
The company reported its first-quarter results on Saturday, with operating earnings falling 14% year-over-year to $9.6 billion. The decline was primarily due to a <a href="https://www.benzinga.com/news/earnings/25/05/45183890/berkshire-hathaways-q1-2025-earnings-plunge-amid-tariff-concerns-operating-profit-fell-14-cash-hit-a-record">$1.1 billion hit</a> to underwriting profits from wildfires in Southern California during the quarter.
Price Action: Berkshire shares were up 1.80% on Friday, and are up 0.35% after hours following the company&#8217;s first quarter results, according to data from <a href="http://pro.benzinga.com">Benzinga Pro. </a>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/25/05/45187070/warren-buffett-retires-after-decades-of-dominancefrom-tim-cook-to-mark-cuban-worlds-top-business-leaders-react-to-the-investment-icons-exit">&#8216;Curtain Call For The Captain:&#8217; Tim Cook, Bill Gates, Mark Cuban And Other Top Business Leaders React As Warren Buffett Bows Out</a></li>
</ul>
Image Via Shutterstock

Earnings

Warren Buffett And His Successor Greg Abel Say Berkshire Hathaway Could Hold This $20B Bet For '50 Years Or Forever'

Shares of Japan&#8217;s five major trading houses soared on Tuesday on the Tokyo exchange after Warren Buffett&#8216;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) <a href="https://in.benzinga.com/markets/25/03/44353719/warren-buffets-berkshire-hathaway-boosts-stake-in-japans-top-trading-firms">increased its stakes in the companies</a>.
What Happened: National Indemnity, a wholly owned unit of Berkshire Hathaway, disclosed in filings with Japan&#8217;s securities regulator that it had raised its stake in Mitsubishi from 8.31% to 9.67% and in Mitsui from 8.09% to 9.82%. Berkshire also increased holdings in Itochu, Marubeni, and Sumitomo by approximately one percentage point each.
Japan&#8217;s Trading Firms Surge as Berkshire Hathaway Increases Stakes: 
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Company (Ticker)</th>
<th>% Change</th>
<th>Price (JPY)</th>
<th>Price (USD)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mitsui &amp; Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>)</td>
<td>+4.64%</td>
<td>2,934 JPY</td>
<td>$19.61</td>
</tr>
<tr>
<td>Marubeni Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>)</td>
<td>+4.26%</td>
<td>2,543 JPY</td>
<td>$17.00</td>
</tr>
<tr>
<td>Mitsubishi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>)</td>
<td>+4.08%</td>
<td>2,754 JPY</td>
<td>$18.41</td>
</tr>
<tr>
<td>Itochu Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>)</td>
<td>+3.87%</td>
<td>7,216 JPY</td>
<td>$48.23</td>
</tr>
<tr>
<td>Sumitomo Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>)</td>
<td>+3.68%</td>
<td>3,637 JPY</td>
<td>$24.31</td>
</tr>
</tbody>
</table>
</figure>
The increased investments follow Berkshire&#8217;s recent negotiations to &#8220;moderately relax&#8221; the previously agreed 10% investment cap, though none of the holdings has <a href="https://in.benzinga.com/markets/25/03/44353719/warren-buffets-berkshire-hathaway-boosts-stake-in-japans-top-trading-firms">exceeded this threshold</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/25/03/44369228/byd-unveils-5-minute-ev-charging-breakthrough-strengthening-edge-over-tesla-stock-spikes-4">BYD Unveils 5-Minute EV Charging Breakthrough, Strengthening Edge Over Tesla— Stock Spikes 4%</a>
Why It Matters: These trading firms are vital to Japan&#8217;s economy, importing essential raw materials including oil, gas, and metals while supporting the country&#8217;s machinery export, automobile, and electronics sectors.
Buffett, often called the &#8220;Oracle of Omaha,&#8221; first disclosed investments in these trading houses in 2020. In his annual shareholder letter last month, he highlighted his increasing appreciation for the companies. By the end of 2024, the market value of Berkshire&#8217;s Japan holdings had risen to $23.5 billion.
While expanding its Japanese investments, Berkshire has accumulated a record cash reserve of $334.2 billion after <a href="https://www.benzinga.com/markets/equities/25/03/44212672/jamie-dimon-cashed-out-234-million-in-jpmorgan-stock-warren-buffett-stockpiled-334-billion-in-cash-weeks-later-markets-crashed-coincidence">selling off equities more broadly</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/tech/25/03/44368525/joe-rogan-once-talked-about-the-two-billionaires-he-really-loves-he-called-elon-musk-a-nomad-and-jeff-bezos-a-yacht-king-what-these-two-tech-titans-own-reveals-a-very-inte">Joe Rogan Once Talked About The Two Billionaires He &#8216;Really&#8217; Loves, He Called Elon Musk A Nomad And Jeff Bezos A Yacht King — What These Two Tech Titans Own Reveals A Very Interesting Story</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Warren Buffett-Backed Japanese Trading Stocks Surge As Tokyo Market Digest Berkshire's Increased Stake

Editor&#8217;s Note: This story has been updated to correctly identify Mitsubishi Corporation as one of Japan's five largest trading houses.
<a href="https://www.benzinga.com/topic/warren-buffett">Warren Buffett </a>gave Japan Inc. another stamp of approval and the market is eating it up. Shares of <a href="https://www.benzinga.com/topic/japan">Japan's</a> five largest trading houses surged up to 9% after the Oracle of Omaha signaled Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) is eyeing bigger stakes.
Mitsubishi Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>) led the pack, climbing nearly 9%, while Mitsui &amp; Co (OTCPK:MITSY), Marubeni Corp (OTCPK:MARUF) (OTCPK:MARUY), Sumitomo Mitsui Financial Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) and Itochu Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITOCF#NYSE">ITOCF</a>) all jumped between 4% and 7.5%, <a href="https://www.ft.com/content/431a648e-851e-49f7-a37b-e862f4c19474">reported</a> the Financial Times.
<h2 class="wp-block-heading">Buffett&#8217;s Billion-Dollar Bet Gets Bigger</h2>
Buffett's love affair with Japan is nothing new. Back in 2020, Berkshire quietly snapped up 5% stakes in each of these trading giants, shelling out $6 billion. Fast forward to today and those holdings are worth $23.5 billion.
Related: <a href="https://www.benzinga.com/25/02/43906366/warren-buffetts-berkshire-boosts-bets-on-five-japanese-companies-admiration-has-consistently-grown-says-oracle-of-omaha-in-letter-to-shareholders">Warren Buffett&#8217;s Berkshire Boosts Bets On 5 Japanese Companies: Oracle Of Omaha Says Admiration &#8216;Has Consistently Grown&#8217;</a>
Now, with the 10% ownership cap lifted, Buffett's annual letter made it clear: "You will likely see Berkshire's ownership of all five increase somewhat." 
Translation? Buffett's doubling down.
<h2 class="wp-block-heading">Why Trading Houses? Think Private Equity, Buffett Style</h2>
Why does he love these stocks? 
Think of them as Japan's private equity powerhouses with portfolios spanning convenience stores, salmon farms, infrastructure and tech startups.
Jefferies analyst Thanh Ha Pham calls them &#8220;the private equity of Japan&#8221; but with a Buffett-approved long-term horizon.
<h2 class="wp-block-heading">ETFs, Stocks Riding The Buffett Wave</h2>
For ETF investors, Buffett's Japan bet shines a light on three key funds. 
The iShares MSCI Japan ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>) is up 2.64% year-to-date, while JPMorgan's BetaBuilders Japan ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBJP#NYSE">BBJP</a>) has climbed 2.37%. But the real standout? 
The WisdomTree Japan Hedged Equity Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXJ#NYSE">DXJ</a>), which boasts a 3.98% gain over the past year.
The Buffett effect is real and it's not just the trading houses riding the wave.
Sony (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) has soared 44% in the past year, while Sumitomo Mitsui Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) is up nearly 40%. Even Mitsubishi UFJ Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) has posted a stellar 24.6% annual gain.
With Japan's corporate reforms, rising dividends and Buffett's backing, this might just be the start of a long-term bull run.
For investors, ignoring Japan now could be like skipping Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in 2003 &#8211; a mistake Buffett himself vowed never to repeat.
Read Next: 
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</ul>
Photo: Shutterstock

Buffett's Japan Play: Why Investors Shouldn't Sleep On These Stocks, ETFs (CORRECTED)

The recent global market turmoil, which originated in Japan, has had a limited impact on Warren Buffett&#8216;s substantial Japanese investments. Despite initial significant losses, the market managed to recover most of the decline by <a href="https://www.benzinga.com/markets/equities/24/08/40295176/s-p-500-erases-weekly-losses-nasdaq-100-ends-4-week-slide-as-bulls-regain-momentum-fridays-stock">the end of the week</a>.
What Happened: The Nikkei 225 index, a key indicator for Japanese stocks, plummeted by 12.4% last week, marking its worst performance since the 1987 &#8220;Black Monday.&#8221; This triggered a chain <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40181335/global-stock-market-meltdown-has-more-to-do-with-macro-funds-stuck-in-wrong-way-aro">reaction across global markets</a>. 
The sell-off was prompted by a minor rate hike by the Bank of Japan, which raised rates to their highest in 15 years and u<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40294173/dollar-yen-volatility-sparks-debate-over-carry-trade-positioning-we-maintain-a-stru">nwound the yen &#8220;carry trade</a>.&#8221; Despite this, the market was able to recoup most of its losses and finished the week down only 2.5%.
Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Buffett&#8217;s holding company, holds an 8% stake in the five leading Japanese trading houses — ITOCHU (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), Marubeni (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>), Mitsubishi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Mitsui &amp; Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSF#OTC">MITSF</a>), and Sumitomo (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>). The initial plunge in these stocks, up to 30%, was followed by a recovery by the end of the week, in line with the broader market.
Berkshire owns an 8% stake in these five major Japanese trading houses with a total investment of around $20 billion. As of the end of 2023, Berkshire had unrealized gains of over $8 billion in these trading houses. Buffett initially disclosed his 5% investment in these companies in 2020 and has pledged not to exceed a 9.9% stake without board approval.
Despite the market turmoil, the Japanese trading houses reported second-quarter earnings that mostly surpassed analyst expectations and maintained their full-year guidance, <a href="https://www.cnbc.com/2024/08/11/how-warren-buffetts-japan-investments-fared-in-the-global-market-rout.html">according</a> to a CNBC report. 
Year to date, Itochu and Mitsubishi shares have risen by over 10%, while Marubeni, Mitsui, and Sumitomo have seen increases of less than 10%.
Outside Japan, Buffett sold significant stock holdings, including half of his Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) stake, raising substantial cash reserves for <a href="https://www.benzinga.com/markets/24/08/40303410/warren-buffett-declares-shift-selling-apple-stock-to-invest-in-this-magnificent-megacap-heres-why">Berkshire in the second quarter</a>. 
See Also: <a href="https://www.benzinga.com/news/24/08/40301145/lawrence-summers-calls-for-sec-investigation-into-unprecedented-vix-movement?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lawrence Summers Calls For SEC Investigation Into Unprecedented VIX Movement</a>
Why It Matters: Buffett&#8217;s Japanese investments come at a time when his other major moves have drawn significant attention. Recently, Elon Musk commented on Buffett&#8217;s decision to sell nearly half of Berkshire Hathaway&#8217;s stake in Apple Inc. 
Musk suggested that Buffett is &#8220;clearly expecting a correction&#8221; after Berkshire <a href="https://www.benzinga.com/news/24/08/40152088/elon-musk-says-warren-buffett-is-clearly-expecting-a-correction-after-berkshire-sold-nearly-half-of">accumulated a cash reserve of almost $277 billion</a>.
Buffett&#8217;s strategic shift towards Japanese trading houses and away from tech giants like Apple is also reflected in Berkshire&#8217;s <a href="https://www.benzinga.com/markets/24/08/40283605/is-warren-buffett-bearish-or-waiting-to-pounce-berkshire-now-owns-more-t-bills-than-federal-reserve">increased holdings of U.S. Treasury bills</a>. This move has led some to speculate whether Buffett is bearish or simply waiting for the right opportunity to invest.
Buffett&#8217;s influence extends beyond financial <a href="https://www.benzinga.com/news/24/07/40004954/melinda-gates-not-surprised-by-warren-buffetts-new-will-to-form-charity-trust-headed-by-his-children">markets to philanthropy</a>. Recently, he decided to allocate the majority of his remaining wealth to a new charitable trust managed by his children, diverting funds from the Gates Foundation.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40220992/whats-going-on-with-trump-media-technology-stock-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock Today?</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

MITSF

Global Market Turmoil Tests Warren Buffett's Japanese Investments: Despite Initial 30% Plunge, Berkshire Hathaway's $20B Bet On Japan's Trading Giants Recovers

The Japanese stock market significantly recovered on Tuesday <a href="https://www.benzinga.com/markets/equities/24/08/40152271/mohamed-el-erian-grant-cardone-and-matt-weller-warn-of-deepening-global-market-selloff-as-yen-ri">following a historic plunge</a>, with other Asia-Pacific markets also showing signs of improvement.
What Happened: The Nikkei 225 and the broad-based Topix in Japan experienced a gain of nearly 10%. This recovery comes after the previous session, which saw the largest loss since the 1987 Black Monday crash.
At the time of writing, the Nikkei was up 8.74%, trading at 34,206.99, while the broader Topix rose 8.81%, reaching 2,423.29.
Japan&#8217;s service-sector activity rebounded in July due to strong domestic demand, as revealed by a survey on Monday. The final au Jibun Bank Service Purchasing Managers&#8217; Index (PMI) increased to 53.7 last month, up from 49.4 in June, which marked the first contraction in 21 months. Japan&#8217;s jobless rate decreased to 2.5% in June from the previous month.
See Also: <a href="https://www.benzinga.com/news/24/08/40160572/donald-trump-blames-kamala-harris-for-global-market-crash-says-were-heading-towards-world-war-iii?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Blames Kamala Harris For Global Market Crash, Says &#8216;We Are Heading To World War III&#8217;</a>
Additionally, real wages grew by 1.1% in June, marking the first increase in 27 months following a revised 1.3% decline in May, according to data from the labor ministry released on Tuesday, Reuters reported.
The yen also weakened by over 1% against the U.S. dollar. This rebound was seen across various sectors, with Japan&#8217;s heavyweight trading houses witnessing a rise of over 8%. Marubeni (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>) saw a surge of over 14%, while SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) jumped over 11%.
Oil prices also saw an uptick, with Brent crude rising by 1.65% to $77.56 per barrel and U.S. West Texas Intermediate crude increasing by 1.86% to $74.30.
S&amp;P 500 Futures climbed 1.40% to 5,288.50 points, while Nasdaq 100 Futures advanced 1.88% to 18,351.50 points. Meanwhile, Dow Jones Futures increased 0.87% to 39,187 points on Monday, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40147514/defector-says-donald-trumps-return-to-white-house-would-be-once-in-a-thousand-year-chance-for-no?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Defector Says Donald Trump&#8217;s Return To White House Would Be &#8216;Once-In-A-Thousand-Year Chance&#8217; For North Korea</a></li>
</ul>
Image Via Midjourney
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

SFTBF

SFTBY

Japan Markets, US Futures Recover After Historic Plunge, Supported Amid Strong Service Sector And Employment Data From Tokyo

Circuit breakers were triggered for Japan&#8217;s TOPIX index and government bond futures, halting trading until 9:26:13 a.m. local time (8:26 p.m. EST). This intervention came as the TOPIX index extended its drop to over 6%, prompting urgent <a href="https://www.benzinga.com/money/how-to-buy-japanese-stock">measures to stabilize the market</a>.
What Happened: The broader impact was felt across the Asia-Pacific region, with the MSCI AC Asia Pacific Index falling 2% to 173.20. Japan&#8217;s Nikkei 225 stock average plummeted 5.60% on Monday and 20% from its July peak, highlighting severe market distress. South Korea&#8217;s KOSPI index also suffered, falling 4% to 2,568.70, while NASDAQ 100 futures in the U.S. dropped as much as 2%.
Heavyweight trading houses such as Mitsubishi Motors (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MMTOF#OTC">MMTOF</a>), Mitsui &amp; Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSF#OTC">MITSF</a>), Sumitomo (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>), and Marubeni (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>) all plunged more than 10%.
See Also:&nbsp;<a href="https://www.benzinga.com/money/best-tech-stocks" target="_blank" rel="noreferrer noopener">Best Tech Stocks Right Now</a>
The sell-off continues a worrying trend from Friday, when Japan&#8217;s Nikkei 225 and TOPIX both fell over 5% and 6%, respectively.
U.S. markets also faced <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40151107/tech-sell-off-takes-qqq-to-correction-territory-nvidia-sheds-over-5-for-week-analys">significant losses on Friday</a>, sparked by a much weaker-than-expected jobs report for July. The Nasdaq led the decline, entering correction territory with a drop of more than 10% from its record high, while the S&amp;P 500 and Dow were down 5.7% and 3.9% from their all-time highs, respectively.
Dow Jones Industrial Average futures fell by 383 points, or 0.96%, while S&amp;P 500 futures and Nasdaq-100 futures dipped 1.6% and 2.5%.
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</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

MMTOF

Global Sell-Off Shows No Sign Of Stopping, Japanese Stocks Fall Sharply, Nikkei Drops Over 5% — Dow Futures Down By Over 300 Points

Private equity giants such as Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) have seemingly gobbled up everything in the United States market, from <a href="https://www.google.com/search?q=rover+blackstone+benzinga&amp;oq=rover+blackstone+benzinga&amp;gs_lcrp=EgZjaHJvbWUyCQgAEEUYORigATIHCAEQIRigATIHCAIQIRigATIHCAMQIRigATIHCAQQIRigAdIBCDI2MjZqMGo5qAIAsAIB&amp;sourceid=chrome&amp;ie=UTF-8">pet care</a> to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37719939/is-it-time-to-buy-the-commercial-real-estate-dip-the-worlds-biggest-private-equity-">real estate</a>, even eying a <a href="https://www.benzinga.com/general/sports/24/05/38710804/nfl-rule-could-open-door-for-big-money-investors-will-your-team-go-up-for-sale">purchase of sports teams</a>. The NYC-based investment management company has eyed a new opportunity: <a href="https://www.benzinga.com/topic/japan">the Japanese market</a>. 
What Happened: Nikkei Asia <a href="https://asia.nikkei.com/Business/Finance/Blackstone-eyes-10bn-in-Japan-deals-amid-buyout-fund-influx">reported</a> that Blackstone is planning to invest $9.6 billion in Japan by 2027.
&#8220;There are a number of factors that have come together that have really accelerated growth in the Japanese economy as well as investment opportunities,&#8221; Blackstone President Jonathan Gray told Nikkei. &#8220;It&#8217;s been the return of inflation to the Japanese economy, the strength in the stock market, the policies under Prime Minister [Fumio] Kishida, which have encouraged individual Japanese to move from savers to investors, which we think is very important, the encouragement of companies to focus on return on equity and to look at selling noncore divisions.&#8221;
The iShares MSCI Japan ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>) is up over 9% in 2024 and the Japanese Yen is as weak against the U.S. Dollar as it has been in several decades.
Why it Matters: Blackstone is not alone in pursuing opportunities in the Japanese market. Investment managers, including Bain Capital and KKR &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), are increasingly favoring Japan rather than China and India for investment opportunities.
Carlyle Group, which has previously invested in Japan, saw an internal rate of return of 28%, compared with around 8% to 14% for major Carlyle funds with focuses in Europe or Asia, according to Nikkei.
Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has made several investments in Japan in recent years. CEO Warren Buffett famously <a href="https://www.nytimes.com/2008/10/17/opinion/17buffett.html">prefers</a> to invest in American companies, but a favorable Japanese interest rate environment led Berkshire to take stakes in the following Japanese conglomerates in 2020:
<ul>
<li>Itochu Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>)</li>
<li>Mitsubishi Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>)</li>
<li>Mitsui &amp; Co., Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>)</li>
<li>Sumitomo Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>)</li>
<li>Marubeni Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>)</li>
</ul>
The late vice-chairman Charlie Munger championed <a href="https://www.benzinga.com/startups/23/11/35539422/charlie-munger-raves-about-warren-buffetts-rare-japanese-investment-opportunity-of-a-century-it-was">Berkshire&#8217;s Japanese investments</a>.
&#8220;It was like having God just opening a chest and just pouring money into it,&#8221; Munger said.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/05/38959529/blackstone-to-grant-equity-to-rank-and-file-employees-at-us-buyouts-report">Blackstone To Grant Equity To Rank-And-File Employees At US Buyouts: Report</a>
Image generated using artificial intelligence via Midjourney.

Private Equity Giant Blackstone Targets Japanese Market, Anticipates 'Accelerated Growth': Report

The Nikkei 225, an index representing the shares of the 225 largest publicly traded Japanese companies, crossed the 39,000-point threshold, charting a remarkable U-shaped recovery <a href="https://www.benzinga.com/topic/japan">through monumental economic shifts</a>.
However, renowned investor Warren Buffett might not be as hyped about this particular milestone. 
<img decoding="async" src="https://www.benzinga.com/files/images/story/2024/1708616119_0.png" alt="" />
<h2 class="wp-block-heading">A Different Story, For A Dollar-Based Investor</h2>
In January 1990, the global landscape was revolutionized by Japanese technological innovations (i.e., televisions, cameras, and video game consoles). 
During this era, the Nikkei 225 peaked at 38,950 points. This marked a staggering 500% increase over the previous decade, translating to an annualized return of 20%.
For the next 34 years, the Nikkei navigated through the dot-com bubble burst, the 2008 financial crisis, the economic ascent of China, and a prolonged period of tepid Japanese economic growth accompanied by over a decade of negative interest rates.
Its current performance presents a contrasting narrative for foreign investors converting their returns into their own currencies.
The dollar-yen exchange rate is currently hovering at its highest levels since July 1990, fueled by the contrasting monetary policies of the Federal Reserve and the Bank of Japan (BoJ), as well as the varying economic growth trajectories of the United States and Japan.
In a stark departure from the BoJ&#8217;s approach of maintaining interest rates at zero or even negative levels since the end of 2010, the Federal Reserve has escalated the cost of borrowing to highs not seen in over two decades, with rates ranging between 5.25% and 5.5%.
While the Yen-denominated Nikkei has showcased a robust gain of over 160% in the past decade, this achievement is significantly diminished for dollar-based investors like Buffett who opted for the currency unhedged iShares MSCI Japan Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>). 
For them, the return dwindles to just 46%, primarily eroded by the yen&#8217;s depreciation against the dollar. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-1024x495.png" alt="" class="wp-image-225537" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">The Buffett Effect</h2>
Recall last April, when Buffett augmented his investments in Japanese corporations. The Oracle of Omaha set his sights on five major Japanese trading houses: Itochu Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), Mitsubishi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Mitsui &amp; Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>), Sumitomo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>), and Marubeni Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>). 
Those entities are recognized for their diversified business operations and tend to be valued at lower or more reasonable market prices.
The &#8220;Buffett Effect&#8221; arguably catalyzed a wave of renewed enthusiasm and confidence in the Japanese stock market.
After Buffett&#8217;s notable investments in April, the Nikkei index experienced a significant 37% increase. Among the companies Buffett invested in, Mitsubishi was the standout, surpassing the overall performance of the Japanese market.
However, this period also saw the U.S. dollar strengthen dramatically, rising more than 12% against the Japanese yen. This increase in the dollar&#8217;s value had a moderating effect on the actual returns for investors who convert their earnings from Japanese stocks back into dollars. 
Essentially, while the investments in Japanese stocks showed paper gains in yen, the appreciation of the dollar against the yen meant that when these earnings were converted back to dollars, the gains were less impressive than they initially appeared.
Now Read: <a href="https://www.benzinga.com/markets/asia/24/02/37257680/asia-and-europe-markets-gain-gold-advances-and-crude-oil-inches-towards-78-global-market-overview-wh">Asia and Europe Markets Gain, Gold Advances, And Crude Oil Inches Towards $78 &#8211; Global Market Overview While The US Slept</a>
Image: Shutterstock

Large Cap

Econ #s

Federal Reserve

Japan's Nikkei 225 Hits Record Highs, But Warren Buffett Is Holding The Applause: Here's Why

Since Warren Buffett expressed willingness to raise his exposures to Japanese trading companies on&nbsp;April 10, the Nikkei 225 index, which represents the broad&nbsp;Japanese stock market, registered gains for five straight weeks, increasing by 8%&nbsp;and surging <a href="http://www.benzinga.com/markets/asia/23/04/31742382/buffett-loves-japan-nikkei-stocks-rally-after-berkshire-hathaway-ceo-says-he-raises-bets-in-five-jap" target="_blank">back to November 2021 highs.&nbsp;</a>
In comparison, the S&amp;P 500 index, which is tracked by the SPDR S&amp;P 500 Trust ETF (ARCA: SPY), only gained by 1% over the same time span, thus lagging well behind Japanese equities.&nbsp;
Until Buffett publicly stated his desire to boost his holdings of Japanese stocks, the Nikkei and the S&amp;P 500 had almost&nbsp;equal year-to-date performance, as the chart below shows.&nbsp;
Chart: The Buffett&#39;s Effect | Japanese Stocks&nbsp;Strongly Outperformed U.S. Peers Since Buffett&#39;s Bet In April
<img alt="" src="https://www.benzinga.com/files/u1363475/nikkei225_2023-05-15_18-51-54_3b864.png" style="height:500px; width:100%" />
Why Buffett Loves Japan:&nbsp;Buffett has long had an attraction for the Japanese &quot;sogo sosha,&quot;&nbsp;or trading house companies, which are diversified conglomerates that trade at cheap or discount&nbsp;valuations&nbsp;on the market. Just what Berkshire Hathaway Inc.&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bkr-a#NYSE">BKR-A</a>) CEO&nbsp;needs to hear.&nbsp;
The &quot;Oracle of Omaha&quot;&nbsp;had purchased slightly more than 5% of Japan&#39;s top five trading houses in August 2020:&nbsp;Itochu Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/itocy#OTC">ITOCY</a>), Mitsubishi Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/msbhf#OTC">MSBHF</a>), Mitsui &amp; Co. Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>), Sumitomo ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssumy#OTC">SSUMY</a>), and Marubeni ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/maruy#OTC">MARUY</a>). Buffett&nbsp;then increased his bets twice in November 2022 and April 2023.&nbsp;
How To Invest In Japanese Equities: There are two major exchange-traded funds (ETFs) that provide investors with exposure to Japanese equities.
The primary distinction between them relates to their currency hedging strategies.
The currency-unhedged iShares MSCI Japan ETF (ARCA: EWJ) tracks a market-cap-weighted index that encompasses around 85% of the investable universe of securities traded in Japan. In this case, a U.S.-based investor would be susceptible to swings in the Japanese yen&#39;s performance versus the dollar.
The WisdomTree Japan Hedged Equity Fund (ARCA: DXJ) invests in Japanese dividend-paying firms while hedging against currency swings. In this situation, a U.S.-based investment would not be exposed to currency risk.
Over the previous three years, DXJ has significantly outperformed EWJ by more than 50% due to&nbsp;a sharp rise in the dollar&#39;s relative value to the yen.
Chart: There Has Been A&nbsp;Notable Performance Gap Between Hedged And Unhedged Japanese Equities
<img alt="" src="https://www.benzinga.com/files/u1363475/ewj_2023-05-15_19-19-51_7a0b5.png" style="height:500px; width:100%" />
Read Also:&nbsp;<a href="https://www.benzinga.com/23/05/32369349/lessons-from-berkshire-warren-buffett-2023-shareholders-meeting-do-what-you-are-good-at-remove-toxic" target="_blank">Lessons From Berkshire Warren Buffett 2023 Shareholder&#39;s Meeting: Do What You Are Good At, Remove Toxic People And Be Kind</a>
Photo: Shutterstock
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Movers

BKR-A

Japanese Stocks Rallied Five Weeks In A Row After Warren Buffett's Bet, Outperforming A Nearly Flat S&P 500

Billionaire investor&nbsp;Warren Buffett&nbsp;said in an interview with Nikkei on Tuesday that&nbsp;<a href="https://www.benzinga.com/markets/asia/23/04/31740469/warren-buffett-very-proud-of-japanese-investments-5-tokyo-listed-stocks-berkshire-has-stakes-in" target="_blank">he was proud of his investments in shares of Japanese trading houses.</a>
In his appearance on CNBC&rsquo;s Squawk Box on Wednesday, he elaborated further on the logic behind his Japanese bets.
What Happened:&nbsp;Buffett&rsquo;s agreed that his investment in Japanese stocks reflects his stamp of approval in Japan. This was accurate a couple of years ago too, he said.
&ldquo;I was confounded by the fact that we could buy into these companies and in effect have earnings yield, maybe 14% or something like that, with dividends&hellip;.. that grew 70% during that time and people were investing money at quarter percent or nothing, and then the quarter percent, if they put it out for a year, it wasn&rsquo;t going to grow,&rdquo; the billionaire said.
&ldquo;It&#39;s sure gonna be better than I thought it would be.&quot;
See Also:<a href="https://www.benzinga.com/money/warren-buffetts-forex-strategy" target="_blank">&nbsp;Warren Buffett&#39;s Forex Strategy</a>
Tracing Back Investment History:&nbsp;&nbsp;Buffett told CNBC that the investment in the Japanese trading houses started about four years ago.
&ldquo;I was looking at company after company, as I do every day and I just thought these were big companies. These were companies that I generally understood what they did, somewhat similar to&nbsp;Berkshire Hathaway, Inc.&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/brk-a#NYSE" target="_blank">BRK-A</a>) (NYSE:&nbsp;<a href="https://www.benzinga.com/stock/brk-b#NYSE" target="_blank">BRK-B</a>),&quot; the billionaire investor said.
These stocks were trading at &ldquo;ridiculous&rdquo; prices, compared to the interest rates that prevailed at that time, he said.
Buffett said he, therefore, started buying all five largest trading houses during his 90th birthday (Aug. 30, 2020). The five trading companies Berkshire has stakes in are:
<ul>
<li>Itochu Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/itocy#OTC" target="_blank">ITOCY</a>)</li>
<li>Mitsubishi Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/msbhf#OTC" target="_blank">MSBHF</a>)</li>
<li>Mitsui &amp; Co., Ltd&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/mitsy#OTC" target="_blank">MITSY</a>)</li>
<li>Sumitomo Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/ssumy#OTC" target="_blank">SSUMY</a>) and</li>
<li>Marubeni Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/maruy#OTC" target="_blank">MARUY</a>)</li>
</ul>
Berkshire picked up an identical 5% stake in each of these companies and Buffett wrote to the CEOs of the companies at that time that he would never buy more than 9.9% in each without their consent.
Since Berkshire&rsquo;s purchases, the dividends of these companies have, on average, gone up by about 70%, he noted.
The investment guru also said Berkshire now owns 7.4% of each of these companies. He also said during his Japanese visit, he met with each of these companies over the past two days.
Buffett said these stocks are long-term bets. &ldquo;We&#39;ll be in these stocks 10-20 years,&rdquo; he said.
Read Next:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/23/03/31505925/did-warren-buffett-miss-tesla-train-at-bargain-200m-valuation-elon-musk-reminds-investme" target="_blank">Did Warren Buffett Miss Tesla Train At Bargain $200M Valuation? Elon Musk Reminds Investment Guru Of Lost Opportunity</a>
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Media

BRK-A

BRK-B

BRKA

Warren Buffett Reveals 'Confounding' Fact That Made Him Invest In Japan's Top 5 Trading Firms: 'Better Than I Thought'

Shares of the Nikkei 225, the largest equity index in Japan, increased more than 1% after Berkshire Hathaway Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bkr-a#NYSE">BKR-A</a>) CEO Warren Buffett stated in a media interview with Nikkei press that he plans to increase his exposure to <a href="https://www.benzinga.com/markets/asia/23/04/31740469/warren-buffett-very-proud-of-japanese-investments-5-tokyo-listed-stocks-berkshire-has-stakes-in" target="_blank">Japanese trading houses</a>.&nbsp;
After revealing in August 2020&nbsp;it had purchased somewhat more than 5% of Japan&#39;s top five trading houses &mdash;&nbsp;Itochu Corp. (OTC:&nbsp;<a href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), Mitsubishi Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Mitsui &amp; Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>), Sumitomo Corp. (OTC:&nbsp;<a href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>)&nbsp;and Marubeni Corp. (OTC:&nbsp;<a href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>) &mdash; Buffett expanded its interests in Japanese stocks in November.
Sogo sosha, or Japanese trading corporations, are diversified conglomerates that typically trade at low or cheap market valuations.
Buffett&#39;s favorite Japanese equities trade at single-digit future P/E ratios, giving them an appealing value proposition that has likely piqued the interest of the &quot;Oracle of Omaha,&quot; who is now in Japan on a business trip.
<img alt="" src="https://www.benzinga.com/files/u1363475/koyfin_20230411_013801213.png" style="height:500px; width:968px" />
Itochu CEO Masahiro&nbsp;Okafuji told Nikkei that he is &quot;confident&quot;&nbsp;Buffett thinks the Japanese market justifies more investment. The iShares MSCI Japan Index Fund (ARCA: EWJ) is up 4.8% year-to-date.&nbsp;
Market Reactions To Buffett&rsquo;s Interview: Shares of the five Japanese trading houses rallied more than 2% at the close of the market session in Tokyo.
Mitsubishi Corp. (8058) gained 2%, Mitsui &amp; Co. (8031) was up by 2.7%, Itochu Corp. (8001) by 3%, Sumitomo Corp. (8053) by 3.2% and Marubeni Corp. (8002) by 4.6%.
<img alt="" src="https://www.benzinga.com/files/u1363475/8001_2023-04-11_13-21-48_9c642.png" style="height:500px; width:100%" />
Read Also:&nbsp;<a href="https://www.benzinga.com/news/23/04/31731723/5-of-the-craziest-things-warren-buffett-has-spent-his-money-on" target="_blank">5 Of The Craziest Things Warren Buffett Has Spent His Money On</a>&nbsp;
Photos: Shutterstock

Buffett Loves Japan: Nikkei Stocks Rally After Berkshire Hathaway CEO Says He Raises Bets in Five Japanese Trading Houses

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/general/social-media/23/04/31737585/twitter-is-officially-defunct-as-elon-musk-pursues-superapp-goal" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Twitter Inc Is Officially Defunct As Elon Musk Pursues&#39; Superapp&#39; Goal</a>
<ul>
<li>Twitter Inc,&nbsp;the parent company of the namesake social media platform, has ceased to exist, and it has now been merged into&nbsp;X Corp.,&nbsp;court filings show.</li>
<li>&#39;Chief Twit&#39;&nbsp;Elon Musk&nbsp;also appeared to acknowledge the change early on Tuesday by tweeting out &quot;X.&quot;</li>
<li>The development came to light in a court filing of Twitter&#39;s corporate disclosure statement in connection with a lawsuit brought about by right-wing activist Laura Loomer. She is fighting against Twitter banning her account in 2019.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31738895/hyundais-electric-vision-18b-investment-paves-way-for-companys-commitment-to-electric-cars" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Hyundai&#39;s Electric Vision: $18B Investment Paves Way for Company&#39;s Commitment To Electric Cars</a>
<ul>
<li>Hyundai Motor Company&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) plans to invest 24 trillion won ($18.2 billion) by 2030 to boost electrification.</li>
<li>The group, including Hyundai Motor, Kia, and Genesis electric models, expects to expand the annual EV production in Korea to 1.51 million units and global volume to 3.64 million units by 2030.</li>
<li>The investment will be used to upgrade Korea&#39;s EV ecosystem and to promote domestic EV production, R&amp;D, infrastructure, and related industries.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31741627/mixed-results-for-moderna-on-vaccine-day-influenza-vaccine-candidate-testing-to-continue-despite-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Moderna&#39;s Vaccine Day: Influenza Vaccine Candidate Testing To Continue As It Misses&#39; Early Success&#39; Threshold</a>
<ul>
<li>Moderna Inc&#39;s&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mrna#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRNA</a>) first vaccine candidate against influenza is mRNA-1010, which is being developed in adults.</li>
<li>The independent Data and Safety Monitoring Board (DSMB) has completed the first interim efficacy analysis for the second Phase 3 trial (P302) conducted in the Northern Hemisphere to evaluate the safety and non-inferior efficacy compared to a licensed flu vaccine.</li>
<li>The DSMB said mRNA-1010 did not meet the statistical threshold to declare early success.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/04/31740193/disclosure-violations-cost-goldman-sachs-15m-as-settlement-in-swap-business" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Disclosure Violations Cost Goldman Sachs $15M as Settlement in Swap Business</a>
<ul>
<li>Goldman Sachs Group Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) agreed to pay $15 million to settle U.S. Commodity Futures Trading Commission (CFTC) charges that it failed to make proper disclosures and communicate fairly to swap customers.</li>
<li>In 2015 and 2016, Goldman opportunistically solicited or agreed to enter into same-day swaps only on days and at times that were financially advantageous to Goldman and disadvantageous to its clients.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/04/31739764/newmont-raises-bid-for-newcrest-takeover-offers-46-premium-to-feb-3-price-at-19-5b-valuation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Newmont Raises Bid For Newcrest Takeover, Offers 46% Premium to Feb 3 Price At $19.5B Valuation</a>
<ul>
<li>Newmont Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>) submitted a final revised takeover offer to&nbsp;Newcrest Mining Limited&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ncmgy#OTC">NCMGY</a>), bidding a 46% premium to the closing price of Newcrest shares as on Feb 3, 2023.&nbsp;</li>
<li>The latest offer values Newcrest Mining at $19.5 billion, making it the largest-ever M&amp;A deal in the gold-mining industry.</li>
<li>Newcrest is Australia&#39;s largest gold miner, which had rejected the previous offer from Newmont at a $17.5 billion valuation. The company initially proposed the acquisition in February 2023.</li>
</ul>
&nbsp;
CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31737812/chatgpt-rivalry-gets-bigger-alibaba-plans-to-integrate-chatbot-across-products-at-low-cost" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ChatGPT Rivalry Gets Bigger: Alibaba Plans to Integrate Chatbot Across Products at Low Cost</a>
<ul>
<li>On Tuesday,&nbsp;Alibaba Group Holding Limited&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) cloud computing unit shared plans to launch its&nbsp;ChatGPT&nbsp;counterpart Tongyi Qianwen.</li>
<li>Alibaba Cloud initially proposed to deploy Tongyi Qianwen with Chinese and English language capabilities on Slack counterpart DingTalk, Alibaba&#39;s workplace communication software, and Tmall Genie, a provider of smart home appliances.</li>
</ul>
&nbsp;
Nikkei
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/23/04/31740469/warren-buffett-very-proud-of-japanese-investments-5-tokyo-listed-stocks-berkshire-has-stakes-in" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Warren Buffett &#39;Very Proud&#39; Of Japanese Investments: 5 Tokyo-Listed Stocks Berkshire Has Stakes In</a>
<ul>
<li>Billionaire investor&nbsp;Warren Buffett&nbsp;has set his sights on the far east to put his money to work.</li>
<li>Buffett, who runs the investment holding company&nbsp;Berkshire Hathaway&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/brk-a#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BRK-A</a>) (NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/brk-b#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BRK-B</a>), is &quot;very proud&quot; of his investments in Japanese stocks, the billionaire told in an interview with Nikkei.</li>
<li>Berkshire, in Aug. 2020, picked up more than 5% stake in each of Japan&#39;s five trading houses, namely&nbsp;Itochu Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/itocy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ITOCY</a>),&nbsp;Mitsubishi Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/msbhf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MSBHF</a>),&nbsp;Mitsui &amp; Co., Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mitsy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MITSY</a>),&nbsp;Sumitomo Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ssumy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SSUMY</a>), and&nbsp;Marubeni Corp.&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/maruy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MARUY</a>).</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31738877/amc-britain-rival-cineworld-files-restructuring-plan-in-bankruptcy-court-shareholders-to-be-wiped-ou" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMC Britain Rival Cineworld Files Restructuring Plan in Bankruptcy Court, Shareholders to be Wiped Out</a>
<ul>
<li>On Tuesday,&nbsp;Cineworld Group PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cnnwq#OTC">CNNWQ</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cnwgq#OTC">CNWGQ</a>) said it had filed a reorganization plan in a Texas bankruptcy court to dissolve existing shareholdings effectively.</li>
<li>The filing formalizes the cinema chain operator&#39;s Apr 3 deal that includes plans to cut debt by about $4.53 billion and raise $2.26 billion to emerge from bankruptcy.</li>
<li>Cineworld, which expects to emerge from Chapter 11 in the first half of 2023, said any transaction resulting from the marketing process might delay emergence beyond that point.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31738440/boeing-aims-to-reach-pre-crisis-737-max-production-rates-in-2025-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Boeing Aims To Reach Pre-Crisis 737 MAX Production Rates In 2025</a>
<ul>
<li>Boeing Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) expects its 737 MAX jet to return to its 2019 production rate of 52 per month in 2025.</li>
<li>The aircraft maker&#39;s bestselling jet demand nosedived following two deadly crashes and the COVID-19 pandemic.</li>
<li>Boeing currently builds 31 737 MAX jets per month. The company aims to increase monthly MAX production to 38 in June, 42 by January 2024, and 47 by June 2024.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31739346/drugmakers-stand-up-for-reproductive-rights-pfizer-and-biogen-among-300-condemning-abortion-pill-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Drugmakers Stand Up for Reproductive Rights: Pfizer and Biogen Among 300 Condemning Abortion Pill Approval Suspension</a>
<ul>
<li>Last week Friday, a U.S. judge suspended the FDA&#39;s approval of mifepristone, effectively banning sales. Executives from over 300 companies, including&nbsp;Pfizer Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) and&nbsp;Biogen Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/biib#NASDAQ">BIIB</a>), signed an open letter calling to reverse a federal judge&#39;s decision.</li>
<li>The abortion pill has been available since 2000. The letter&#39;s authors wrote that the ruling ignores scientific evidence and legal precedent.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31739074/clear-skies-ahead-chinese-airlines-resume-boeing-737-max-operations-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Clear Skies Ahead: Chinese Airlines Resume Boeing 737 MAX Operations</a>
<ul>
<li>Boeing&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) reportedly disclosed that 11 Chinese airlines had resumed 737 MAX operations as of Apr 10, a positive indication of its efforts to rebuild its business in the world&#39;s second-largest aviation market.</li>
<li>The number of 737 MAX returning to commercial service reached 43, accounting for approximately 45% of the Chinese 737 MAX fleet.</li>
<li>Boeing didn&#39;t name the airlines, but Hainan Airlines Holding Co Ltd, Fuzhou Airlines, Lucky Air, and Air China have all flown the jets in the months.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31740222/mitsubishi-heavy-industries-pockets-2-8b-missile-contracts-from-japan-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mitsubishi Heavy Industries Pockets $2.8B Missile Contracts From Japan</a>
<ul>
<li>Mitsubishi Heavy Industries Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mhvyf#OTC">MHVYF</a>) has reportedly secured contracts worth $2.84 billion (378 billion yen) from Japan.</li>
<li>Under the contract, Mitsubishi Heavy will develop and build a new missile force to deter China from using military force in East Asia.</li>
<li>The four contracts include land, sea, and air-launched missiles and a hypersonic ballistic warhead that it wants to begin deploying in 2026, the report quoted Japan&#39;s Ministry of Defense.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/04/31738465/antitrust-penalty-south-korea-hits-google-with-32m-fine-for-anti-competitive-mobile-app-behavior" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Antitrust Penalty: South Korea Hits Google with $32M Fine for Anti-Competitive Mobile App Behavior</a>
<ul>
<li>South Korea penalized&nbsp;Alphabet Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;42.1 billion won ($32 million) for exploiting its influence in the mobile app market to drive away a local rival.</li>
<li>Google tried to block Korean platform rival&nbsp;One Store Co&#39;s&nbsp;growth, Bloomberg cites&nbsp;Korea&#39;s Fair Trade Commission&#39;s&nbsp;statement.</li>
<li>Google has denied offering benefits to developers who put their apps only on Google Play.</li>
</ul>
Photo by Ljupco Smokovski via Shutterstock and Wikimedia Commons

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Twitter Inc Is Officially Defunct, Alibaba Plans to Integrate ChatGPT Like Chatbot Across Products, Moderna's Flu Shot Study Misses 'Early Success' Criteria: Today's Top Stories

Billionaire investor <a href="https://www.benzinga.com/news/23/04/31731723/5-of-the-craziest-things-warren-buffett-has-spent-his-money-on">Warren Buffett </a>has set his sights on the far east to put his money to work.
What Happened: &nbsp;Buffett, who runs the investment holding company, Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), is "very proud" of his investments in Japanese stocks, the billionaire <a href="https://asia.nikkei.com/Editor-s-Picks/Interview/Warren-Buffett-says-he-intends-to-add-to-Japanese-stock-holdings2">told</a> in an interview with Nikkei.
Berkshire in Aug. 2020 picked up more than 5% stake in each of Japan's five trading houses, namely Itochu Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), Mitsubishi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Mitsui &amp; Co., Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>), Sumitomo Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>) and Marubeni Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>), the report said.
He then went on to augment the stakes in Nov. 2022, it added.
The "Oracle of Omaha" reportedly said he would meet with these companies this week to have a discussion about their businesses and emphasize his support.
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Why It's Important: Buffett is a proponent of value investment – a strategy of picking up businesses at a discount to their intrinsic value. Berkshire's top holdings include Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), among others. The company has recently been <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/03/31523799/how-much-1-000-invested-in-occidental-when-warren-buffett-bought-the-stock-at-onset-of-r">building a position in the upstream oil and gas company Occidental Petroleum Corp </a>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>).
Buffett's Berkshire has also invested in other Asian companies such as BYD Company Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>).
Read Next: <a href="https://www.benzinga.com/news/23/02/31060887/warren-buffett-says-in-58-years-of-managing-berkshire-his-decisions-no-better-than-so-so-heres-his-s">Warren Buffett Says In 58 Years Of Managing Berkshire His Decisions &#8216;No Better Than So-So&#8217;: Here&#8217;s His &#8216;Secret Sauce&#8217;</a>

BYDDY

Warren Buffett 'Very Proud' Of Japanese Investments: 5 Tokyo-Listed Stocks Berkshire Has Stakes In

Warren Buffett-led&nbsp;Berkshire Hathaway Inc&nbsp;(NYSE:&nbsp;BRK-A) (NYSE:&nbsp;BRK-B) has raised its stakes in Japan&#39;s five biggest trading houses, regulatory filings showed.
The move is in line with Berkshire&#39;s statement in 2020 that its investments in the Japanese trading houses were for the long term and the stakes could rise to 9.9%.
Berkshire&#39;s stakes have increased to 6.59% from 5.04% in&nbsp;Mitsubishi Corp, to 6.62% from 5.03% in&nbsp;Mitsui &amp; Co Ltd&nbsp;(OTC: MITST), to 6.21% from 5.02% in&nbsp;Itochu Corp&nbsp;(OTC:&nbsp;ITOCF) (OTC:&nbsp;ITOCY), to 6.75% from 5.06% in&nbsp;Marubeni Corp&nbsp;(OTC:&nbsp;MARUY) (OTC:&nbsp;MARUF), and to 6.57% from 5.04% in&nbsp;Sumitomo Corp.
Takashi Hiroki, the chief strategist at Monex,&nbsp;said&nbsp;he was not surprised that Berkshire had bought more shares, Reuters reported.
&quot;Trading companies&#39; high stock prices are associated with high commodities prices, but there&#39;s much more to their businesses than that,&quot; he said. &quot;Their earnings are good, and shareholder returns are strong.&quot;
Berkshire&#39;s increased investments in the trading houses come after it bought more than $4.1 billion of stock in&nbsp;Taiwan Semiconductor Mfg. Co. Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>), a significant foray into the technology sector by the conglomerate.
Photo via Wikimedia Commons

Hedge Funds

Warren Buffett's Berkshire Boosts Stake In Five Japanese Trading Houses

Photo by Khamkeo Vilaysin on <a href="https://unsplash.com/@mahkeo">Unsplash</a>
The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.
Many people want to see increasing numbers of electric vehicles on the roads of the future. Reduced consumption of fossil fuels and fewer emissions would be clear benefits of such an approach.
The trouble is that, even with electric vehicles gaining in popularity, many gasoline and diesel-powered cars and trucks will remain, continuing to emit pollutants. There likely will be more petroleum-based vehicles on roads in the future than there are now &mdash; <a href="https://www.fuelfreedom.org/cars-in-2050/">at least 1.5 billion</a> by 2050 compared with 1 billion total vehicles currently.
That begs the question of how to more efficiently reduce the more harmful side effects of gasoline and diesel fuel given that they will still be around for many years to come?
Nanotechnology may be one possible answer.
<h2>Fuel Additives on a Much Smaller Scale?</h2>
Current fuel additives, which are designed to reduce some of the more harmful effects of both fuels, generally require relatively large volumes of such additives to work.
Startup FuelGems says its fuel additive uses between 800 and 20,000 times less material than current rival products to create such beneficial effects. A microdose of just 1 to 5 grams of its active advanced material can treat approximately 260 gallons of fuel, the company claims, all the while increasing fuel consumption and lowering emissions &mdash; some by as much as almost 50%.
The company has initiated discussions and is in pilot and pre-pilot stages for its additive technology with some big energy players including BP plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>), Japan-based Marubeni Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/maruy#OTC">MARUY</a>), and Suncor Energy Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/su#NYSE">SU</a>).
The need for efficient fuel additives becomes even more important when considering that most of the electricity produced for electric vehicles still comes from polluting energy sources such as natural gas and coal, FuelGems says. To completely replace such energy sources with cleaner alternatives such as solar and wind remains some way off, requiring the need for gasoline and diesel that&rsquo;s as clean as possible in the interim.
<h2>Investment and Future Plans for Expansion</h2>
FuelGems, backed by Austin, Texas-based venture capital fund Sputnik ATX, also completed a crowdfunding campaign in 2020. It is continuing to accept individual investments. FuelGems is hoping to continue to expand into gas stations and refineries with its additive technology, since the nanoparticles can be added at a refinery level very easily and cost effectively. With 700 refineries, if the company has even 20% of them, this additive has the potential to treat a massive amount of fuel very quickly.
There are 220,000 such gas stations in the U.S. and Europe while there are 220 refineries in the US and Europe, and 700 worldwide, according to FuelGems. FuelGems is currently in a pilot and pre-pilot stage with 2 separate gas station companies and oil and gas companies that operate approximately 15 refineries.
The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

Emerging Markets

Startups

More Efficient Fuel Additives Still Much Needed

Warren Buffett-led Berkshire Hathaway Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-a#NYSE">BRK-A</a>) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-b#NYSE">BRK-B</a>) late Sunday announced it has purchased passive stakes in five of the largest Japanese trading companies.
What Happened: The trading companies, referred to as &ldquo;Sogo Shosha&rdquo; in Japan, include Itochu Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/itocy#OTC">ITOCY</a>), Marubeni Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/maruy#OTC">MARUY</a>), Mitsubishi Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/msbhy#OTC">MSBHY</a>), Mitsui &amp; Co. Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>), and Sumitomo Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssumf#OTC">SSUMF</a>).
Berkshire said it has acquired a 5% stake in each of the five companies. The Omaha-based company pledged that, while it intended to hold these investments long term, it wouldn&rsquo;t have ownership above 9.99% in any of the Sogo Shosha at any point in the future.
&ldquo;The five major trading companies have many joint ventures throughout the world and are likely to have more of these partnerships,&rdquo;&nbsp;Buffett said in a statement.
&ldquo;I hope that in the future there may be opportunities of mutual benefit.&rdquo;
Why It Matters: According to data compiled by <a href="">Bloomberg</a>, the investments, made through subsidiary National Indemnity, are worth above $6 billion.
This also marks a rare push away from the United States companies for Buffett, who famously <a href="">said</a> that &ldquo;never bet against America,&rdquo; as earlier <a href="">noted</a> by analyst Quoth the Raven.
Buffett <a href="">turned 90 years old</a> on Sunday, and counts Apple Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) and Bank of America Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) as <a href="">some of his biggest</a> holdings.
Price Action: Berkshire Class A shares closed 0.5% higher at $327,431 on Friday, and Class B shares closed 0.77% higher at $218.55.
Photo courtesy: freeimage4life via Flickr

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MSBHY

SSUMF

Warren Buffett's Berkshire Buys 5% Stake Each In Japan's 5 Largest 'Sogo Shosha'

Marubeni Corp (OTC: <a class="ticker" href="/stock/maruy#OTC">MARUY</a>) announced its plans to buy Gavilon Group LLC for $3.6 billion. 

The deal is likely to complete by September.

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