Warren Buffett's favorite Japanese trading company rose after Buffett stated in a letter to investors that they had “superior” shareholder preferential policies than the US.
$Marubeni(8002.JP)$It is the highest increase in the past 4 months, and rose 5.6% on Monday. Four other trading companies (Mitsubishi Corporation, ITOCHU Corporation, Mitsui & Sumitomo Corporation) owned by Berkshire Hathaway also rose and surpassed the overall market.
“Mr. Buffett spent a lot of space talking about Japanese trading companies in his letter. Then, I spent about 1 page of the 16-page annual letter addressed to shareholders and talked about Japanese companies.
Mr. Buffett said that Japanese companies are still undervalued, and since there is still room until they reach the upper limit of 9.9% investment ratio announced by Berkshire, there is a high possibility that the investment ratio will be raised, and Mr. Mito, who has attended the general meeting of shareholders of US insurance companies since 2014.
After the Nikkei Stock Average hit an all-time high last week, depreciation of yen, global high-tech stock appreciation, and improvements in shareholder returns became tailwinds. The fact that Mr. Buffett once again supported the Nikkei Stock Average last year also boosted the confidence of the entire market...