Berkshire Hathaway raises stake in Mitsubishi past 10%
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Berkshire Hathaway has pushed its stake in Mitsubishi past the 10% threshold, Mitsubishi said Thursday in a formal statement. The holding, made through Berkshire’s insurance subsidiary National Indemnity Company, rose to 10.23%, up from 9.74% in March. This increase makes the U.S. conglomerate an even bigger shareholder in Japan’s biggest trading company. A Mitsubishi spokesperson said Berkshire “continues to believe in the firm’s medium to long-term growth.” This comes nearly five years after Warren Buffett first bought into five Japanese trading houses in 2020. The investment is part of Warren’s wider Japan strategy, which includes positions in Sumitomo, Itochu, Marubeni, and Mitsui, alongside Mitsubishi, all of which dominate Japan’s global trade pipeline, with investments stretching from energy to metals to food distribution. And since the original announcement, Berkshire has gradually added to these holdings, especially during periods of market softness, rarely revealing purchases until they are already done. Warren rules out railroad acquisition but cuts new freight deal While increasing Berkshire’s footprint in Japan, Warren also addressed rising chatter about U.S. railroad mergers. On August 3, he and CEO-in-waiting Greg Abel met with Joseph Hinrichs, the CEO of CSX, at Warren’s Omaha office. The meeting was private; no aides, no assistants. Warren later told Becky Quick on CNBC that Berkshire “would not make a bid” to buy CSX. Instead, he said the three executives discussed ways to cooperate and make U.S. freight rail more efficient. Just days later, CSX and BNSF Railway, which Berkshire owns, announced a partnership to offer new coast-to-coast freight service across the U.S. The announcement hit markets immediately. On the news that Berkshire would not buy CSX, shares of CSX fell 5%, closing at $32.81. Union Pacific dropped around 2%, and Norfolk Southern slid more than 2%. Even Berkshire’s own stock dipped, though by less than…
