Warren Buffett tells BeckyQuick he was “confounded” by the opportunity to buy into 5 Japanese trading houses 2 years ago.
chairman and CEO revealed this week that he had raised his stakes in each of the five major Japanese firms to 7.4%, and added that he may consider further investments. Buffett's trip to Japan is intended to show support to the companies.
"I just thought these were big companies. They were companies that I generally understood what they did. Somewhat similar to Berkshire in that they owned lots of different interests," Buffett said. "And they were selling at what I thought was a ridiculous price, particularly the price compared to the interest rates prevailing at that time."
"We would very much evaluate it quickly. Warren highlighted the bigger the better, and that he'll answer the phone on the first ring. And we'll never run out of money. They can call us anytime," said Abel.for his 90th birthday, in an initial purchase worth roughly $6 billion. The firms are Mitsubishi Corp., Mitsui & Co., Itochu Corp., Marubeni and Sumitomo.
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