At Berkshire Hathaway’s (BRK.B) (BRK.A) annual shareholder meeting this weekend, CEO Warren Buffett made it clear that his bet on Japan is not just a strategic move — it’s a deeply held, long-term conviction. Speaking about Berkshire’s sizable stakes in five Japanese trading houses, Buffett said, “In the next 50 years... we won’t give a thought to selling those. Japan’s record has been extraordinary.”
The comment reflects a sharp evolution in Buffett’s perspective on Japan, a country he once openly avoided as an investment destination. In 1998, he famously dismissed opportunities there despite favorable borrowing conditions, saying Japanese firms offered “very low returns on equity.” But times — and his outlook — have changed.
