Reuters ahead in reporting Buffett’s $6 billion bet on 5 biggest Japanese trading firms; market reacts

Reuters was ahead in reporting on August 30th that Warren Buffett’s Berkshire Hathaway has bought a 5% stake in each of Japan’s five biggest trading houses, together worth over $6 billion. Berkshire announced the long-term investment in Marubeni Corp, Sumitomo Corp, Mitsubishi Corp, Mitsui & Co Ltd and Itochu Corp, and said the holdings could rise up to 9.9% in each one of them. Shares in all five trading houses jumped on the news. Marubeni and Sumitomo ended up over 9%, followed by Mitsubishi and Mitsui at over 7%. Itochu rose 4.2% to a record high.