Japanese trading house shares rose on Thursday after Berkshire Hathaway CEO Greg
Abel said the firm plans to hold its stakes in five major trading houses for
decades. The group was among the top risers in TOPIX components: Mitsubishi Corp
climbed as much as 4.5% to its highest level since May, while Sumitomo, Mitsui &
Co, Itochu and Marubeni each gained over 2.5%. Berkshire currently owns roughly
10% of each company. Abel, who succeeded Buffett as CEO in January, described
the holdings as long-term in a CNBC interview. The stocks have benefited since
Berkshire disclosed the positions in 2020; analysts say Abel’s reaffirmation
could rekindle investor buying interest.