At Buffett Berkshire’s annual shareholder meeting, in Nebraska, Berkshire said after 1-1/2 months that he has increased his innings in Itchu, Marubeni, Mitsubishi, Mitsui and Sumitomo by 9.8%.
Berkshire’s investments in companies at the end of 2024 were $ 23.5 billion.
“Over the next 50 years, we will not give the idea of selling it,” said Buffett. “Behave very well with us by five companies …. Our main activity is just cheerful and clapping.”
Berkshire Vice Chairman Greg Abel, who expects Buffett to succeed as a chief executive, added that he had imagined Berkshire that “or forever” is owned by trading houses.
“We are building relationships, and we really hope to do big things with them,” he said.
Known as “Sogo Shasha”, Japanese trading houses trade in a variety of materials, products and foods, often serve as an intermediary, and provide logistic support.
They are also involved in the actual economy in areas such as goods, shipping and steel.
Berkshire began investing in trading houses in 2019, and declared a 5% ownership share on Buffett’s 90th birthday in August.
Buffett likes to avoid businesses that say he does not understand, and compare trading houses to his own organization.
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