Warren Buffett is shaking Japan’s magic money tree
Huge gaps between American and Japanese interest rates offer opportunities
Shares in three of Japan’s five largest trading conglomerates reached record highs over the past week, following an announcement by Warren Buffett that he is keen to own more of their stock. It is just the latest good news for the firms. Itochu, Marubeni, Mitsui, Mitsubishi and Sumitomo Corporation have surged in value since Berkshire Hathaway, Mr Buffett’s investment firm, announced its first purchases on his 90th birthday in 2020. Since then, their share prices have risen by between 64% and 202%.
This article appeared in the Finance & economics section of the print edition under the headline “Of price and yen”
Finance & economics April 22nd 2023
From the April 22nd 2023 edition
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