Buffett increased his holdings in Mitsui & Co., continuing to bet on Japanese trading companies.

Warren Buffett's Berkshire Hathaway has become a major shareholder in Mitsui & Co. by increasing its stake, marking the latest bet by the institution that Japanese trading companies will remain attractive. According to a statement released by Mitsui & Co. on Monday, the American investor has raised his voting stake to over 10% and may consider further increases. Buffett first disclosed his holdings in Japan's five major trading houses in 2020. These companies are engaged in various businesses ranging from liquefied natural gas to salmon farming, and their stock prices have benefited from Buffett's support, outperforming the Japanese TOPIX index. According to Buffett's annual letter to investors in February, Berkshire Hathaway initially planned to keep its stake below 10%, but these Japanese companies agreed to "moderately" relax the limit. Berkshire Hathaway's stake in Mitsubishi Corp. has also crossed the 10% threshold. The diversified operations of these trading companies mean that they are better able to withstand fluctuations in commodity prices compared to overseas rivals, while also increasing their focus on shareholder returns.