Berkshire Hathaway (BRK.A), the U.S. multinational holding company, is still adding to its big Japan bet. The company has increased its stake in Sumitomo (SSUMY) to 10.05% as of May 7, pushing past the key 10% mark and looking more like a long-term partner than just a large investor.
With this move, Berkshire now owns more than 10% of all five major Japanese trading houses, a bet that started in 2019 and has kept growing under new leadership. This comes at a time when Japan’s economy is gaining momentum, helped by the Bank of Japan’s rate hike from 0.5% to 0.75%, the highest level in about 30 years.
