Warren Buffett looks to Japan, takes 5% stakes in five biggest trading firms

- Berkshire Hathaway Inc said it has acquired slightly more than 5% of the shares in five large Japanese companies, marking a departure for Chairman Warren Buffett as he looks outside the United States to bolster his conglomerate.

"I am delighted to have Berkshire Hathaway participate in the future of Japan," Buffett said in a statement."The five major trading companies have many joint ventures throughout the world and are likely to have more... I hope that in the future there may be opportunities of mutual benefit." Marubeni was the biggest gainer among the five, surging 12%. Sumitomo and Mitsubishi rose more than 10% and Mitsui rose 8.2%. Itochu - the only one of the four with a price-to-book ratio above 1 - rose 5.4% to a record high.

Several also have hefty amounts of cash on hand. Mitsubishi, for instance, has seen steady growth in its free cash flow per share over the last four years, Refinitiv data showed.

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